6 October 2016
Angelfish Investments Plc (the “Company”)
Further Loan Agreement
Angelfish Investments plc announces that, on 5 October 2016, it extended the existing loans totalling £427,500 (“Existing Loans”) to 4 Navitas (Green Energy Solutions) Limited (“4Navitas”) by a further £70,000 (the “Additional Loan”). The Additional Loan is repayable on 31 December 2016 and the Company has also agreed to extend the repayment date for the Existing Loans to 31 December 2016. The Existing Loan and Additional Loan bear a rate of interest of 12 per cent per annum, payable monthly in arrears and are secured over a floating charge over the assets of 4Navitas.
4Navitas is an engineering company based in Lancashire, UK that specialises in renewable energy technology. 4Navitas has designed and developed new technology to manufacture a vertical axis wind turbine (“VAWT”), with 11 patents pending, in partnership with SIEMENS AG. The 4Navitas VAWT has significant advantages over traditional horizontal wind turbines; specifically its smaller size, mobility, ease of installation and lower cost makes it an ideal energy solution in a number of circumstances.
4Navitas will be utilising the Additional Loan funding to purchase composite components in order to progress the manufacture of the uprated 4N-VAWT for resale.
Andrew Flitcroft, Finance Director of Angelfish, commented: “The directors of Angelfish are pleased to be able to provide 4Navitas with the funding required to roll out the manufacture of the 4N-VAWT and look forward to assisting in the development of the 4Navitas business.”
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)7769 591096|
|Cairn Financial Advisers LLP
ISDX Corporate Adviser
David Coffman/ Richard Nash
|+44 (0)207 148 7900|
|SVS Securities Plc
|+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.