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LONDON - Argentex Group PLC has reached an agreement today to extend its Bridging Loan Facility by £4 million, following a request for additional liquidity from the company’s primary Tier 1 Liquidity Provider. This move comes as part of the ongoing acquisition process by IFX Payments, which was initially announced on April 25, 2025.
The additional funds, which include an incremental Initial Amount (IA) of £3 million and €1.2 million requested yesterday, will be held by the Tier 1 Liquidity Provider as ring-fenced capital. The extension of the Bridging Loan Facility, first disclosed on April 24, 2025, will be on the same terms as the original agreement.
Argentex is also currently in discussions with IFX Payments regarding the establishment of a larger, revolving credit facility (RCF) aimed at supporting the company’s liquidity and working capital needs. This development is crucial for Argentex, as the company had to take urgent action last week to secure additional liquidity support, resulting in the suspension of trading in the company’s Ordinary Shares.
The need for immediate and significant ongoing liquidity support remains a priority for Argentex, and as such, trading in the company’s Ordinary Shares will continue to be suspended until further arrangements are finalized. The company expects to make additional announcements regarding its financial arrangements and the status of trading in due course.
This latest financial update is based on a press release statement from Argentex Group PLC.
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