Eight Capital Partners (ECP) has a 40% stake in Finance Partners Group, which owns an investment in Italy-based Avantgarde Group. Avantgarde owns inventory finance fintech company Supply@Me (www.supplyme.tech), which is being acquired by former AIM company Abal. Last week Abal published the document for the acquisition and admission to the standard list. There will be a placing of Abal shares valued at £42.18m. That includes shares issued to the vendors of Supply@ME. The placing of new shares will raise £2.24m for Abal at 0.6756p a share.
IFA group AFH Financial (AFHP) is maintaining the rate of growth of revenues and fund inflows in the first quarter of the new financial year and cash generation has improved.
NQ Minerals (NQMI) has secured a $60m debt refinancing agreement. This is a six-year facility with an interest cost of five percentage points above LIBOR. Final documentation has to be completed. NQ has raised £177,000 at 7p a share.
The Department of Health and Social Care and the Home Office have announced that patients will get faster access to cannabis-based medicines. Sativa (SATI) is well-positioned to benefit because it has a controlled drug licence to cultivate, produce and supply cannabis for research.
EcoVista (EVTP) had net assets of £842,000 at the end of August 2019. The subsidiary that owned the investment property in the books has been subsequently sold for £1.
European Lithium (EUR) is drawing down a further A$2m from its facility with Winance Investment. This cash will be spent on the definitive feasibility study for the Wolfsberg lithium project. The company has yet to draw any funds from the H120 AG finance facility because a security agreement has to be completed.
Forbes Ventures (FOR) is establishing a securitisation cell company in Malta in order to securitise litigation funding assets that have been issued in the UK. ME Group will supply distributed ledger technology and manager the platform. The first securitisation should be complete and generating revenue within six months.
Gunsynd (GUN) is changing its investing policy “to invest in and/or acquire companies and/or projects within the natural resources sector, life sciences sector (concentrating on but not being limited to, plant-based nutrition and environmentally friendly alternatives to food sources) and the alcohol beverage sector, (concentrating on but not being limited to, ingredients used within the production of such beverages including sugar cane, agave, and molasses)”. The geographic focus is Europe, Australia, the US and the Caribbean.
VI Mining (VIM) issuing nearly 4.9 million shares at 15p each in order to pay debts of £730,400. Most of the shares were issued to VI Mining chief executive David Sumner. First Sentinel (FSEN) is raising £183,000 at 20p a share. This will provide working capital.
Dozens Savings 5% bonds (DSO7), maturing on 2 March 2021, have been admitted to NEX.
Trading in Wheelsure Holdings (WHLP) shares has been suspended because the accounts for the year to August 2019 have not been published.
SME news and commentary
NEX Exchange Limited (”NEX Exchange”) accepts no responsibility for the content of this article or for any reliance placed by you or any person on the information contained therein.
By providing access to this material NEX Exchange does not intend to solicit business or offer any securities to any person in any country, whether directly or indirectly.
Articles available on nexexchange.com may be produced by independent third parties and are for distribution only under such circumstances as may be permitted by such third parties and applicable law. They are published solely for informational purposes and should not be construed as a recommendation to sell, buy or hold any product, investment, security or any other financial instrument. Any opinion, view or idea contained in any article is the author’s own and does not reflect or represent the opinions, views or ideas of NEX Exchange, nor any of its affiliates, directors, officers, employees or agents. Publication of the article does not signify endorsement by NEX Exchange of any of the information contained therein. NEX Exchange is not involved in the preparation of any such articles and does not make any representation or warranty, express or implied, as to the accuracy, completeness, suitability or correctness of any of the information presented by individual authors in the articles. In no circumstances will NEX Exchange, or any of its affiliates, directors, officers, employees or agents, be liable for any indirect or direct loss, or consequential loss or damages including without limitation, loss of business or profits arising from the use of, any inability to use, or any inaccuracy in the Information or views contained in the articles. Any opinions expressed in the articles are subject to change without notice and are not to be relied upon as investment advice, which should be sought from your independent advisers. NEX Exchange is under no obligation to update or keep current the information contained in the articles.