공시 • Aug 07
IFX (UK) LTD cancelled the acquisition of Argentex Group PLC (AIM:AGFX) from group of shareholders. IFX (UK) LTD proposed to acquire Argentex Group PLC (AIM:AGFX) from group of shareholders for £2.9 million on April 23, 2025. IFX payments to acquire the entire issued and to be issued share capital of the Company, at a price of £0.0249 per Argentex share in cash. In a related transaction, Argentex Group PLC (AIM:AGFX) has also received non-binding indicative acquisition proposals from Pollen Street Capital Limited & Terry Clune and Harry Adams. The Board has unequivocally rejected the Proposals received from (i) Lumon Acquisitions Limited; and (ii) Terry Clune and Harry Adams. Although discussions are at an advanced stage, the Board cautions that there can be no certainty that a firm offer will be made for the Company nor to the terms of any such offer. Argentex shareholders are advised to take no action. IFX Payments has received irrevocable undertakings from the Argentex directors and certain other Argentex shareholders to vote, or procure a vote, in favor of a firm offer at a price consistent with the Possible Offer in respect of a total of 70,161,376 Argentex shares representing, in aggregate, approximately 58.26% of the issued ordinary share capital of Argentex as at the date of this announcement. The irrevocable undertakings remain binding in the event of a competing offer. The Argentex Directors unanimously intend to recommend the Acquisition. Argentex Shares are currently admitted to trading on AIM. It is intended that a request will be made to the London Stock Exchange to cancel trading in Argentex Shares on AIM, and to re-register it as a private limited company, to take effect shortly after the Effective Date. The consideration necessary to satisfy the Acquisition in full will be funded from IFX Payments' existing cash resources. The Acquisition will be on the terms and subject to the Condition. The Conditions include, amongst others: (a) the approval by a majority in number representing not less than 75%. in value of the Scheme Shareholders who are on the register of members of Argentex, (b) the passing of all resolutions required to approval and implement the Scheme by the requisite majority or majorities of Argentex Shareholders at the General Meeting; (c) the sanction of the Scheme by the Court with or without modification, (d) the delivery of a copy of the Scheme Court Order to the Registrar of Companies for registration; (e) regulatory approval from the FCA, DFSA and Dutch Central Bank.
The Board of Argentex Group and IFX Payments have reached agreement on April 25, 2025.
The Scheme is expected to become Effective during the second half of the calendar year 2025.
As of May 6, 2025, Argentex Group plc announces that it has arranged a revolving credit facility (RCF) with IFX Payments for up to £20 million. The RCF is in addition to the bridge funding of £10.5 million provided to the Company by IFX Payments. The Company has now secured further immediate ongoing liquidity support by way of the RCF, and therefore trading in the Argentex Group ordinary shares on AIM will be restored, effective from May 6, 2025. As of May 21, 2025, Argentex announces that it has published a circular in relation to the Acquisition (the "Scheme Document") today, together with the Forms of Proxy for the Court Meeting and the General Meeting. Court Meeting and the General Meeting will be held on June 11, 2025. As of May 29, 2025, Terry Clune and Harry Adams confirm that they do not intend to make an offer for Argentex. As of June 11, 2025, approval of court and approval of Argentex Group PLC shareholders have been received.
Tom Salvesen, James Maxwell and James Todd of Singer Capital Markets Advisory LLP acted as financial advisor for Argentex Group PLC. Strand Hanson Limited acted as financial advisor to IFX. Clive Hopewell and Fiona McFarlane of Bird & Bird LLP acted as legal advisor to IFX Payments. Gowling WLG is acted as legal advisor to Argentex.
IFX (UK) LTD cancelled the acquisition of Argentex Group PLC (AIM:AGFX) from group of shareholders on August 7, 2025. 공시 • Jun 11
Argentex Group plc Announces Resignation of Daniel Ross as COO Argentex Group PLC announced On 25 April 2025 that Daniel Ross left the company as Chief Commercial Officer. 공시 • Jun 09
Argentex Response to Media Speculation and Rejects Lavide Holding Offer The Board of Argentex Group PLC (AIM:AGFX) noted recent media speculation and confirmed that on 6 June 2025 it received a highly preliminary non-binding proposal ("the Proposal") from Lavide Holding N.V. (ENXTAM:LVIDE) (and not Haerlem Capital as has been reported), a Euronext listed financial holding company with a current market capitalisation of c.€3 million, to make an equity investment in Argentex through the issuance of newly issued shares in order to obtain a 50% equity interest in the Company for a cash consideration of £2.5 million. The Proposal also includes the potential provision of a £15 million credit facility to the Company upon completion. The Board wishes to clarify that it has unanimously rejected the Proposal on the basis that it does not constitute an offer for the entire issued share capital of the Company, and that its proposed funding falls materially below that provided by IFX Payments and the level that Argentex requires to continue trading and fulfil its ongoing regulatory obligations. 공시 • May 09
Argentex Group PLC Announces Board Changes Argentex Group PLC announced that, following the April 25, 2025 announcement regarding the recommended acquisition of Argentex by IFX Payments, the directors had reviewed the composition of the board and agreed that it would be in the best interests of the Company and its shareholders to reduce the number of directors. Accordingly, each of Henry Beckwith, Lord Digby Jones, Rina Ladva, and Jeff Parker (all non-executive directors of the Company) agreed to resign and left the board on May 2, 2025. Following the completion of statutory Due Diligence checks, Tim Rudman was formally appointed to the board on 5 May 2025. Following Tim's appointment the board now consists of Nigel Railton, non-executive chairman, Jonathan Gray, senior independent non-executive director, Tim Haldenby, independent non-executive director and Tim Rudman as Chief Executive Officer. 공시 • May 07
Argentex Group PLC Announces Resignation of Guy Rudolph as Chief Financial Officer Argentex Group PLC announced that Guy Rudolph, the Company's Chief Financial Officer, on 2 May 2025 notified the board of his resignation. Guy will continue to serve as Chief Financial Offer of the Company whilst he serves out his notice period of 6 months. 공시 • Apr 25
IFX (UK) LTD proposed to acquire Argentex Group PLC (AIM:AGFX) from group of shareholders for £2.9 million. IFX (UK) LTD proposed to acquire Argentex Group PLC (AIM:AGFX) from group of shareholders for £2.9 million on April 23, 2025. IFX payments to acquire the entire issued and to be issued share capital of the Company, at a price of £0.0249 per Argentex share in cash. In a related transaction, Argentex Group PLC (AIM:AGFX) has also received non-binding indicative acquisition proposals from Pollen Street Capital Limited & Terry Clune and Harry Adams. The Board has unequivocally rejected the Proposals received from (i) Lumon Acquisitions Limited; and (ii) Terry Clune and Harry Adams. Although discussions are at an advanced stage, the Board cautions that there can be no certainty that a firm offer will be made for the Company nor to the terms of any such offer. Argentex shareholders are advised to take no action. IFX Payments has received irrevocable undertakings from the Argentex directors and certain other Argentex shareholders to vote, or procure a vote, in favour of a firm offer at a price consistent with the Possible Offer in respect of a total of 70,161,376 Argentex shares representing, in aggregate, approximately58.26% of the issued ordinary share capital of Argentex as at the date of this announcement. The irrevocable undertakings remain binding in the event of a competing offer.
Tom Salvesen, James Maxwell and James Todd of Singer Capital Markets Advisory LLP acted as financial advisor for Argentex Group PLC. Strand Hanson Limited acted as financial advisor to IFX. 