RE: Interesting, especially for a supposedly dead business25 Jan 2026 19:02
I sent this and got a legal reply back but they know I'm Evil Chaebol lol
Others may fair better......
Dear Lord Wellesley,
I am writing as a stakeholder with a keen interest in Angra Limited's progress, particularly regarding the application to upgrade from Authorised Payment Institution to Electronic Money Institution status with the Financial Conduct Authority (FCA).
The company's interim results announced on 17 December 2025 stated that the EMI application "continues to progress." More recently, you have been quoted as indicating that a final decision may still be "another 6 months" away. These public statements suggest an active and ongoing process.
However, I have received information from (this part remains private) as BFD will be outside the FCA tomorrow am x;)
. This creates a material discrepancy between the company's public narrative and the regulatory position as understood by industry sources.
To resolve this uncertainty, I would greatly appreciate your clarification on the following specific points:
Has the EMI application been formally rejected by the FCA, or does it remain under active consideration?
If there has been a rejection (or a "minded to refuse" notification), when did this occur and what were the principal reasons provided?
Are there plans to withdraw, amend, or re-submit the application, and if so, on what anticipated timeline?
The appointment of a Brazilian director in June 2025 and the planned Q1 2026 launch of a Brazilian branch have been presented as complementary growth initiatives. Is this still the case, or do these developments reflect any adjustment in strategy prompted by difficulties with the UK EMI application?
Given that the EMI upgrade has been highlighted as a key enabler for Angra's product expansion and shareholder value creation, timely and transparent disclosure of any material adverse developments would be in the interests of all stakeholders.
I would be grateful for a direct response at your earliest convenience,
Please feel free to contact me using the details above if you require any further context.
Thank you for your attention to this matter. I look forward to your reply.
Yours sincerely,