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Started: demolition123, 28 Apr 2024 10:55
Last post: demolition123, 28 Apr 2024 10:55
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
Started: demolition123, 20 Jan 2024 14:05
Last post: demolition123, 10 Feb 2024 20:18
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Hey, I really out of date here and have been holding this near worthless share for years...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 ?
Started: demolition123, 19 Nov 2023 13:27
Last post: demolition123, 19 Nov 2023 13:27
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
Started: demolition123, 10 Nov 2023 12:12
Last post: demolition123, 10 Nov 2023 12:12
Movement at last in wrong direction but signs of life yippie
Started: demolition123, 12 Sep 2023 08:38
Last post: demolition123, 11 Oct 2023 10:28
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
Started: demolition123, 5 Jul 2023 12:04
Last post: demolition123, 5 Jul 2023 12:04
Delay to the publication of audited accounts for the year ended 31 December 2022
&
Temporary
Started: demolition123, 3 Jul 2023 10:10
Last post: demolition123, 3 Jul 2023 10:10
Suspended at 0.00 I suppose that means I have lost my investment? anybody as not herd anything for months
Started: demolition123, 1 Jun 2023 14:55
Last post: demolition123, 1 Jun 2023 14:55
Still nothing a update or something please Dominic White was going to invest some more but no news so reluctant to at the moment
Started: demolition123, 9 May 2023 19:58
Last post: demolition123, 9 May 2023 19:58
Would like to know how things our going here,I know there raising funds but that's all I know ?
Started: demolition123, 21 Apr 2023 13:27
Last post: demolition123, 21 Apr 2023 13:27
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
Started: demolition123, 3 Apr 2023 22:30
Last post: demolition123, 3 Apr 2023 22:30
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 ?
Started: LondonSouthEast, 15 Nov 2022 11:24
Last post: LondonSouthEast, 15 Nov 2022 11:24
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
RNS
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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.
A picture containing logo Description automatically generated
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
Started: NoMark, 11 Nov 2021 07:59
Last post: Troajan, 30 Jun 2022 16:43
Out
is looking better and better.
Rns out. It’s path forward
Sure looks like Dominic White is trying to take this company to a different level.
I’ve still got £300 worth of these share with II. How do you buy or sell them? Just say no info on this company on their site !!
Started: Goingtothemoon, 17 May 2021 11:11
Last post: Goingtothemoon, 17 May 2021 11:11
Still holding all from years ago when was MORE !
Following Admission, IWEP has informed the Company that it will be transferring its shareholding in the Company intra-group to Trumar Capital LLC. The ultimate beneficial owner remains unchanged.
Admission and Total Voting Rights
Application will be made for the admission of 223,057,644 new ordinary shares comprising the Consideration shares and the Conversion Shares (together "New Ordinary Shares") to trading on AQSE Growth Market and it is expected that this will occur on or around 14 May 2021. The New Ordinary Shares will rank pari-passu in all respects with the Company's existing issued ordinary shares.
Subsequent to the issue of New Ordinary Shares, the Company will have 1,564,315,462 ordinary shares in issue. The Company has no shares in treasury, therefore this figure may be used by shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Related Party Transactions
The Term Loan, Extension and the Conversion are related party transactions pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook by virtue of their connection to Dominic White, Chairman.
The Term Loan and its accrued interest is expected to be repaid at the end of the 24 month term using distributions made by InnFin based on its current business plan and given ECP's ability to meet any earn-out that may become due through the issue of the Company's shares.
Commenting on the transactions, ECP's Chairman Dominic White said:
"The acquisition of InnFin combined with the Term Loan in ECP are first steps towards building an innovative investment portfolio focussed increasingly on the revolution that we are witnessing within banking technology and the financial services industry. We envisage a number of strategic investment opportunities for ECP which could be transformational in terms of shareholder value in the medium term. We are also working through strategies that could significantly grow the Company's equity value such that it becomes a more attractive opportunity for investors, and, capital partner for future investee companies."
Whilst ECP retained an option to acquire 60 per cent. of InnFin (the "Option Agreement"), details of which were announced on 27 July 2020, the Board decided it would better further ECP's strategy by acquiring the entire business. As a result, ECP has agreed to acquire 100% of InnFin for an initial consideration of €2.45m reflecting its ability to contribute directly to delivering the Company's growth Themes, current business levels, and pre-identified pipeline of upcoming transactions. A potential earn-out payment of a further €2.45m could become payable, subject to InnFin achieving agreed EBITDA levels over the next three years. The projected total EBITDA across the three year period is greater than the total potential consideration.
If these performance targets are not met, the potential earn-out does not become payable. If the targets are achieved, the earn-out can be paid in cash or shares at the Company's election. The initial purchase consideration will be settled by the payment of €1m in cash, €328,700 of vendor loan at a 5 per cent. interest rate accruing for 24 months ("IF Vendor Loan"), £62,000 (€71,300 at an exchange rate of £1:€1.15) in shares of Eight Capital ("Consideration Shares") issued at 0.039p (being the 360 day Volume Weighted Average Price) which equates to 155,388,471 shares, the offset of €350,000 that is owed to Eight Capital by the vendor as part of the Option Agreement, and €700,000 of the Company's listed bonds. Standard representation and warranty clauses for a corporate acquisition of this kind have been included in the contract.
The Consideration Shares will be issued to Concreta Srl, which, on admission of the shares to trading on AQSE, will be interested in 9.9 per cent. of the Company's enlarged issued share capital. As a result of a further issue of the Company's listed bond as partial consideration for InnFin the Company will have a total of €3,990,000 bonds outstanding.
The Term Loan
ECP's Chairman, Dominic White, has agreed to lend €1.1m to the Company by way of a 24 month, unsecured loan, at an accruing interest rate of 5% p.a. ("Term Loan"), to enable the acquisition to proceed and to provide working capital to the Company.
Loan Conversion
Following the issue of the Consideration Shares, IWEP Ltd ("IWEP"), the Company's largest shareholder, has agreed to convert £27,000 (equivalent to €31,050 at an agreed rate of £1:€1.15) of its outstanding vendor loan ("IWEP Vendor Loan") into 67,669,173 new ordinary shares ("Conversion Shares") at a price of 0.039p per share ("Conversion").
On Admission, IWEP's holding will be 29.9%. As a consequence of the InnFin acquisition and in consideration of the Term Loan, the maturity date for the IWEP Vendor Loan has been extended to 6 August 2022 ("Extension"). All other terms of the IWEP Vendor Loan remain unchanged and the balance outstanding following Conversion is €455,950. IWEP is controlled by Dominic White, Eight Capital's Chairman.
Fol
Acquisition, Loan and Issue of Equity
Released 07:00:08 10 May 2021
RNS Number : 0040Y
Eight Capital Partners PLC
10 May 2021
10 May 2021
Eight Capital Partners plc
("ECP" or "the Company")
Acquisition of Innovative Finance Srl for an initial €2.45 million
&
€1.1 million Term Loan, Loan Extension and Loan Conversion
Eight Capital Partners Plc (AQSE: ECP), the investing company whose investment strategy focuses on technology, media, telecom and financial services businesses including listed investing companies, is pleased to announce the acquisition of financial services business, Innovative Finance Srl ("InnFin"). The Company will pay an initial €2.45m with a further potential earn-out of up €2.45m based on the achievement of financial performance targets. It also announces a Term Loan to the Company of €1.1m.
The ECP board has been reviewing a number of investment opportunities within the financial services sector and recognises that those engaged in "Fintech" operations, the digitisation of banking services, through to blockchain-backed decentralised finance companies and crypto banks, are revolutionising the way that customers interface with financial services. Companies that embrace this technology are likely to become market leaders within their chosen sectors.
Within the existing strategy ECP is therefore re-energising its focus on financial services investments with particular attention being paid to fintech, financial services, banking digitisation and crypto banking themes (the "Themes").
The Acquisition
As part of this focus, the Company has agreed to acquire InnFin, a corporate finance advisory business that develops mergers and acquisitions and financing solutions across multiple sectors, primarily in Europe, with access to international transactions. It is currently working on transactions in the USA, Switzerland and Italy which are linked to technological developments in the financial services industry, such as fintech payment service platforms and conversion of a traditional banking entity into a digitised "bank of the future". The board considers these to be key growth areas as noted above and therefore believes that the investment in InnFin aligns well with its investment strategy for financial services and technology businesses.
ECP intends to create a supervisory board at InnFin and all of its wholly owned subsidiaries such that it has oversight capability and can cross-fertilise ideas, capital and deal flow across the portfolio. The Boards will consist of ECP members and independents.
Whilst ECP retained an option to acquire 60 per cent. of InnFin (the "Option Agreement"), details of which were announced on 27 July 2020, the Board decided it would better further ECP's strategy by acquiring the entire business. As a result, ECP has agreed to acquire 100% of InnFin for an initial consideration of €2.45m reflecting its ability to contribute directly to delivering the Company's