04/12/2019 | Press release | Distributed by Public on 04/12/2019 03:30
Angelfish Investments Plc ('Angelfish' or 'the Company')
The Directors of Angelfish announce the following update on its investment in Wallet Ads Limited ('Wallet Ads').
On 9 August 2018, Angelfish announced that it had subscribed for BP150,000 convertible loan notes issued by Wallet Ads to be drawn down in six monthly instalments, one of GBP50,000, followed by five equal instalments of GBP20,000. The loan was subsequently converted into equity representing 20% of the ordinary share capital of Wallet Ads following draw down of the final instalment on 31 December 2018, as announced on 2 January 2019.
Angelfish has now entered into an agreement to provide a secured revolving loan facility to Wallet Ads, the principal terms of which are as follows:
Richard Walker, director of Angelfish commented: 'We have been encouraged by the progress Wallet Ads has made to date and in line with our agreement last year recognise the need for this facility to support Wallet Ads over the coming months as it commences full commercial operations. We look forward to continuing to work closely with the Wallet Ads team to support this next stage of the company's development'
This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of the Company take responsibility for this announcement.
Angelfish Investments Plc +44 (0)7772 013116
Cairn Financial Advisers LLP +44 (0)207 213 0880
NEX Exchange Corporate Adviser
David Coffman / Richard Nash
About Angelfish Investments plc
The Company's Ordinary Shares and Preference Shares are admitted to trading on the NEX Exchange Growth Market in London. The Company has the trading symbol ANGP for its Ordinary Shares and the trading symbol ANGS for its Preference Shares.