Business
Completion of Conversion, RPT and Issue of Equity
Completion of Conversion, RPT and Issue of Equity.
About this update from Eight Capital Partners Plc
[{"type":"text","content":"\n\n8 September 2023\n\n \nEight Capital Partners plc\n(\"ECP\", \"Eight Capital\" or \"the Company\")\n \n \nCompletion of Note Conversion, Related Party Transaction and Issue of Equity\n \nEight Capital Partners plc (AQSE: ECP), the financial services operating company that aims to grow revenue through businesses engaged in \"Fintech\" operations including in the digital banking and lending sectors, announces that, further to the announcement on 11 August 2023, application has been made for 25,577,732,855 new ordinary shares at a price of 0.02525 pence per new ordinary share (\"Conversion Shares\") in lieu of the conversion of the Notes and accrued interest due to be paid on 3 September 2023 (\"Implementation Date\").\n \nThe price of the Conversion Shares was calculated by reference to the volume weighted average price (VWAP) per share of the last ten trading days before the Implementation Date and the mid-market exchange rate on the Implementation Date. Based on the GBP/EUR exchange rate of GBP 1: EUR 1.1686 and share price of 0.02525 pence, this results in the issue of 25,577,732,855 Conversion Shares, representing approximately 13.64 per cent. of the so enlarged issued share capital of the Company.\n \nIt is important that all Note holders who are receiving Conversion Shares contact the Company on [email protected] in order to confirm the delivery details for their allocation of Conversion Shares and they are urged to do so immediately.\n \n\nAdmission\n \nThe Company has anticipated admission of the Conversion Shares to trading on the AQSE Growth Market to occur on or around 13 September 2023 (\"Admission\"). Trading in the Company's ordinary shares remains presently suspended as a result of the delayed publication of the Company's annual report for the year ended 31 December 2022. The annual report is substantially complete and the Company will shortly be in a position to publish its accounts. The Conversion Shares will rank pari passu with the ordinary shares of the Company in issue.\n \n \nDirector Shareholding\n \nFollowing the issue of the Conversion Shares and the participation by Trumar Capital LLC (\"Trumar\"), a company beneficially owned by Dominic White, a director of the Company, in the conversions, Trumar will receive 7,417,592,00...