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We have not herd anything for a vary long time on how things our going here,DW should of at least inform shareholders on how it's going
Harps 83 we should be hearing something vary soon as it's been months and months since any kind of update, I think DW and AZ from Syme is tide into some kind of deal here.You have DW wanting to open a digital bank and then you are waiting on a WL backing connected to a bank all going fintech digitization with there montisations is all vary complicated new technology but something tells me this has been planned way way back,I have had loads tell me I am totally wrong about the whole thing but I still think this is all going to connect together somehow,with DW iweb and the other buisness AZ involved with ? Could all be one big scam or one vary well thourght out master plan ?? Look at what everyone said about bitcoin when it first involved look at it now,it been said if you put £250.00 when it first started you be a millionaire now so who knows but I dont want to miss the boat here invested in both eight capital and syme
Hey, I really out of date here and have been holding this near worthless share for years... do you know what has been happening? Has it RTO into anything? Any value?
We must have accomplished aquiring the digital bank by now so a update must be iminuent,would think the 50 million should of been raised as well ?
DW A update would be nice and some attention to your company might help things. I spoke to a lot of my friends who invest in shares and non of them ever herd of you and your plans on opening digital bank.Only ones who know of you are the ones invested in Supply@me.Like to see some prof of progress and what new buisness transactions have occurred since last year
Movement at last in wrong direction but signs of life yippie
Thought we might have had some more news by now on how things our going,I still think this will do well once up and running a digital bank well everything is going digital it's the future
Digitization, Monitizations Digital bank is the future everything going that way
Delay to the publication of audited accounts for the year ended 31 December 2022
&
Temporary
Suspended at 0.00 I suppose that means I have lost my investment? anybody as not herd anything for months
Still nothing a update or something please Dominic White was going to invest some more but no news so reluctant to at the moment
Would like to know how things our going here,I know there raising funds but that's all I know ?
Is this 2022 or 2023 anyone,The Broker option opportunity will remain open until 5pm on Monday 21st of November.Some news on how our things progressing would be nice
Made a start here looks an interesting concept new digital bank and fintech is the future so will have a punt,anyone know when something will kick of ?
Dear all,
We were delighted to catch up with Eight Capital Partners Chairman Dominic White who outlined in detail the restructuring work which has been carried out over the last year (10M Euro bond: coupon cut and term extended to 2026) and the whitewash waiver. And who went on to explain the organic growth and acquisition strategy, at the core of which is the proposed acquisition of a digital bank. This all ties in with the plan to raise £50M which is currently happening, £10M of which is an equity raise open to institutions and retail investors. 'Havegun' has summed that up beautifully below. If retail investors wish to participate they should buy shares through the Acquis market. If fintech is of interest to you then this is well worth a look: https://youtu.be/B8aUzpFC9cc
This is the important bit,
i. Placing
The proposed placing will be offered to a number of institutional and professional investors. The company intends to issue the Placing Shares at a price of 0.02 pence per share, raising up to £10 million of new equity capital. Investors will also receive one warrant for every Placing Share (the "Warrant"). The Warrants, which are exercisable at 0.05 pence, will have a term of 12 months.
The proposed placing process is expected to continue for a period of time, with announcements being made as groups of investors commit to funding. The Placing Shares will rank pari-passu with all existing ordinary shares in the Company.
ii. Broker option
The Company intends to offer its existing shareholders the opportunity to invest, subject to status, on the same terms as all other investors in the capital raise process.
This will be achieved by existing shareholders' brokers contacting the Company directly, who will then enable the process through its registrar. Interested shareholders should ask their broker to contact Eight Capital at growthstrategy@eight.capital.
The Broker option opportunity will remain open until 5pm on Monday 21st of November. Existing shareholders should note that the Company reserves the right to reject applications from brokers at its sole discretion in the event of any regulatory and/or jurisdictional issues.
iii. Conversion opportunity
The Company also intends to offer its existing listed bondholders the opportunity to convert their debt holdings into equity, on the same terms as all other investors in the capital raise process.
This will be achieved by existing listed bondholders contacting the Company directly, who will then enable the process through Bank of New York, the bond registrar. Interested bondholders should contact the Company directly at growthstrategy@eight.capital.
equity, as follows:
i. In June 2022, following bondholder approval, ECP re-organised the Vienna Bonds 1 to align their commercial terms to that of its more recently issued listed Vienna bonds (ISIN GB00BP2PO741) ("Vienna Bonds 2"), notably at a lower coupon with a longer duration to July 2026, providing longevity to its bond financing.
ii. At the General Meeting in October 2022, approval of a waiver by shareholders under Rule 9 of the Takeover Code allowed its largest shareholder, IWEP Ltd, to increase its shareholding above 29.9% and beyond 51%, enabling it to convert Euros 3,150,000 of Company debt into equity at £0.0002 per share. A listed bondholder also agreed to convert Euros 145,000 of debt to equity at the same time on the same terms.
3. To grow the market capitalisation of the Company towards and beyond £50 million so that it establishes a strong balance sheet base from which to significantly expand its operations and its own equity valuation and therefore become increasingly attractive to investors.
As noted above, this announcement initiates the next step in the Company's transformational growth strategy being to:
i. launch a share placing process;
ii. offer new equity to existing shareholders; and
iii. offer holders of Vienna Bonds 1 and Vienna Bonds 2 the ability to convert their bonds into ECP equity, all on the same terms.
IWEP Ltd, the Company's major shareholder, remains committed to converting up to Euros 33 million of existing debt into new equity as the Company generates free-float headroom, with the issue of new shares via the Fundraise enabling it to do so.
Fintech Strategy
Following the Company's acquisition of Innovative Finance Srl in May 2021, the Board stated that ECP would re-energise its focus on financial services with particular attention being paid to fintech, decentralised finance and potentially crypto banking. The Board believes that the trend of major technological change in the way financial services are delivered will enable faster, cheaper, easier and more accessible financial services. Furthermore, there will likely be a fundamental change to the sector's landscape as a result of industry consolidation driven by new, more agile entrants.
The Directors believe that there is a particular opportunity within two areas of Fintech.
Firstly, the Directors' opinion is that is there is a large gap in SME financial service provision which remains under-served by the traditional financial services sector. It is the Directors' view that SMEs are sometimes over-looked by larger funding institutions or, where served and managed through a traditional banking approach, can be seen as difficult to underwrite and therefore expensive to fund. The Company believes there are significant benefits for SMEs in using "fintech" systems and innovatively structured capital markets finance solutions to better acces
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Strategy Update & Launch of up to £10m Fund Raise
Released 07:00:09 03 November 2022
RNS Number : 1957F
Eight Capital Partners PLC
03 November 2022
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. Upon the publication of the announcement via a regulatory information service, this information is considered to be in the public domain.
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3 November 2022
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
Strategy update
&
Launch of an up to £10 million fund raise process as part of the Company's £50m equity issue plans
Eight Capital partners plc, the financial services operating company that aims to grow revenue through businesses engaged in "Fintech" operations including in the digital banking and lending, and, asset and wealth management ("WealthTech") sectors, is pleased to provide the following update on progress with its transformational growth strategy, as set out in its announcement of 27 September 2021, and the launch of its fund raise process ("Fundraise").
The Fundraise is the next step in the implementation of ECP's strategy, providing the Company with an initial tranche of acquisition funding as well as headroom in its capital structure to continue the debt to equity conversions committed to by its major shareholder. The Fundraise will seek to raise up to £10m in new funds (the "Placing Shares"), in stages, resulting in an issue of up to 50 billion new ordinary shares, in aggregate, at the same price as the recent debt conversion announced on 17 October 2022. The completion of the Fundraise, and associated debt conversions, are key milestones towards the Company's goals of becoming a significant Fintech operating group and increasing its market capitalisation to £50m and beyond.
Update on transformational growth strategy
In its announcement of 27 September 2021, the Company set out its key long-term objectives and steps needed to achieve these goals, a number of which have now either been completed or are underway:
1. To become an operating Fintech group
The Company's first step was to convert from an investing company to a Fintech operating company with a strong growth strategy (further detail below). This was completed in September 2021.
2. The significant restructuring of ECP's balance sheet, including, inter alia, conversion of some or all of ECP's existing debt into equity alongside a share placing, which may include an open offer to all shareholders.
The Company has successfully taken significant steps towards reorganising its balance sheet, through rearranging the terms of its Vienna listed bonds (ISIN XS2027405880) ("Vienna Bonds 1") and converting Euros 3,295,000 of debt into equi
Sorry can’t get it to post. 3rd quarter which is obv not included as made £1m in fees. Maybe this dog will have its day
Eight Capital Ptnrs. - 2022 Half-Year Report #ECP https://www.**********.co.uk/rns/announcement/6bd3df3e-0f2c-45b3-ae50-3657b07115d2 #********** undefined
Trading update
https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3739762
even newer interview.
https://www.proactiveinvestors.co.uk/companies/news/986356/eight-capital-partners-introduces-new-head-of-innovative-finance-986356.html