Shareholder Loan

DCI Advisors Limited

16 November 2023

 

DCI Advisors Ltd

(the "Company" or "DCI")

Shareholder Loan

16 November 2023

The Board of the Company has entered into a top up loan agreement for Euros 350,000 with a DCI shareholder to provide additional working capital to the Company. This shareholder provided an initial loan to the Company in April. When combined with the shareholder loans announced previously, all of the Shareholder Loans are expected to total up to €3.0 million in aggregate (the "Shareholder Loans" or "Shareholder Loan Agreements"). Five previous loans amounted to €350,000 each and two loans from funds managed by the same shareholder amounted to US$330,000 in aggregate. The first six loans made up to September have identical terms to one another (other than their date of initiation and currency of denomination) and are for a 12-month term bearing an interest rate of 12 per cent. p.a., with no fees payable on disbursement or repayment. The Company's intention is to repay these Shareholder Loans from the proceeds of the sale of Company assets. The new Shareholder Loan and one that was announced on 6 October have identical terms with the previous loans, except that there is no right of prepayment by the Company and they will therefore last 12 months.

As previously announced, as none of the Shareholder Loans  were repaid by 30 September 2023, collateral in the form of security over certain Company assets  is being put in place using normal commercial terms which will exceed the aggregate value of each of the loans. In addition, the Board has agreed that the Company will guarantee the repayment of the latest loan and that it will be offering this guarantee to all of the previous lenders in respect to all Shareholder Loans received to date.

Enquiries

DCI Advisors Ltd Nicolai Huls / Nick Paris, Managing Directors	[e-mail] [phone]
Cavendish Capital Markets (Nominated Adviser & Broker) William Marle / Jonny Franklin-Adams / Edward Whiley / (Corporate Finance) Pauline Tribe (Sales)	[phone]
FIM Capital Limited (Administrator) Lesley Lennon / Grainne Devlin (Corporate Governance)	[e-mail] / [e-mail]

 

END