Angelfish Investments plc
LSE : ANGP

December 31, 2015 05:42 ET

Variation of investment terms

31 December 2015
                                         Angelfish Investments Plc
                                         ("ANGP" or "the Company")
                                                     
                                       Variation of investment terms
                                                     

On 28 May 2015, the Company entered into a convertible loan agreement with Andes Financial Services Limited
("Andes")  pursuant  to  which the Company has invested £250,000 into Andes  to  be  used  exclusively  for
software  development ("Investment"). Andes is a company registered in England and Wales and is  authorised
and regulated by the Financial Conduct Authority.

The  Company  announces that it has agreed with Andes to vary the repayment terms of  the  Investment.  The
Investment  was originally repayable in full no later than 31 December 2015. As varied, the  Investment  is
now repayable in three tranches: (i) £75,000 no later than 31 December 2015; (ii) £75,000 no later than  31
January  2016;  and  (iii) £100,000 by no later than 31 March 2016. The first repayment  tranche  has  been
received by the Company.

Interest  shall  continue to accrue on the outstanding balance not repaid by Andes at a  rate  of  12%  per
annum,  payable  monthly in arrears. Angelfish retains the ability to convert that part of  its  Investment
which has not been repaid into ordinary shares in Andes.
The Investment remains secured against the fixed and floating assets of Andes.

The directors of the Company take responsibility for this announcement.
                                                 --ENDS--

Enquires:

Angelfish Investments Plc                              
Andrew Flitcroft                                       +44 (0)7769 591096
Finance Director                                       

ISDX Corporate Adviser                                 
Cairn Financial Advisers LLP                           
Avi Robinson/Liam Murray                               +44 (0)207 148 7900
                                                       
Broker                                                 
SVS Securities Plc                                     
Kulvir Virk                                            +44 (0)203 700 0100
                                                       
About Angelfish Investments plc

The  Company's Ordinary Shares are admitted to trading on the ISDX Growth Market in London. The Company has
the  ISDX  trading symbol ANGP for its ordinary shares and the ISDX trading symbol ANGS for its preferences
shares.

Contact Information

  • Angelfish Investments plc