Eight Capital Partners PLC Result of AGM (8975H)
August 06 2021 - 9:15AM
UK Regulatory
TIDMECP
RNS Number : 8975H
Eight Capital Partners PLC
06 August 2021
6 August 2021
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
Result of Annual General Meeting
Eight Capital Partners plc (AQSE: ECP), the investing company
whose investment strategy focuses on technology, media, telecoms
and financial services businesses including listed investing
companies, announces that at the Company's Annual General Meeting
held earlier today, all resolutions were duly passed unanimously by
the meeting. Proxies received by close of business on 4 August 2021
representing 29.4% of shares eligible to vote, were also
overwhelmingly in favour of all resolutions, with between 99.97%
and 100% in favour.
Commenting at the AGM, ECP Chairman, Dominic White said:
"2020 was a year of consolidation for ECP. Looking at the
current financial year and beyond, our strategy for the next phase
of development of the Company is already looking very exciting. The
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.
"We have very recently announced two such transactions, the
first being the acquisition of financial services business,
Innovative Finance Srl ("InnFin") whereby the Company has paid an
initial EUR2.45m with a further potential earn-out of up EUR2.45m
based on the achievement of financial performance targets, and the
second being the successful monetisation through the disposal of
our investment in Finance Partners Group SpA ("FPG"), an Italian
financial services company, for EUR2.15 million. It was originally
acquired as a receivable for EUR1.9 million in June 2019.
"Over and above these two latest transactions, the Board
considers there to be potentially greater value creation for
shareholders from the further aligning of the activities of our
wholly owned financial services subsidiaries, Epsion Capital and
InnFin which worked closely on the transactions. We expect them to
deliver and develop other exciting transactions for the Company in
the current year and beyond."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Eight Capital Partners plc +44 20 3808 0029
Dominic White info@eight.capital
Cairn Financial Advisers LLP
AQSE Corporate Adviser
Jo Turner / James Lewis +44 20 7213 0880
Walbrook PR Limited +44 20 7933 8780
Paul Vann/Nicholas Johnson Paul.vann@walbrookpr.com
About Eight Capital Partners:
Eight Capital Partners plc is an international investing company
whose investment strategy focuses on technology, media, telecoms
and financial services businesses, including both privately-owned
and listed entities. It has recently refined its strategy to focus
increasingly upon investing in those businesses engaged in
"Fintech" operations, from the digitisation of banking services,
through to blockchain-backed decentralised finance companies and
"crypto banks".
ECP provides equity, debt, and equity-related investment capital
to companies seeking capital for growth and development,
consolidation or acquisition, or pre-IPO financing. The Company
seeks to generate an attractive rate of return for shareholders,
predominantly through capital appreciation, by taking advantage of
the increasing number of investment opportunities within the
continuously developing global technology, media, telecoms and
financial services sectors.
About Epsion Capital:
Epsion Capital is an independent corporate advisory firm based
in London with an extensive experience in UK and European capital
markets. The team of senior and experienced ECM and M&A
professionals is specialized across multiple markets, sectors and
geographies and it prides itself on a commercial approach that
allows the clients to achieve their growth ambitions.
https://epsioncapital.com
About Innovative Finance:
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".
www.eight.capital
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END
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