RC365 Secures £2.25m Funding Package Through CEO-Backed Credit Facility and Share Placing
RC365 Holding plc (LON: RCGH) has secured a total funding package of approximately £2.25 million through a combination of an interest-free standby credit facility provided by its chief executive and a £750,000 share placing.
The fintech solutions and payment services provider has entered into a standby credit facility of up to US$2.0 million with LYS Limited, a substantial shareholder in RC365 that is wholly owned and controlled by the company’s executive director and chief executive, Chi Kit Law.
The facility is interest-free, unsecured and carries no commitment, arrangement or utilisation fees.
RC365 said the facility provides the group with additional financial flexibility and may be used to support platform development, scale up revenue-generating opportunities from new customers and fund general corporate purposes.
The standby facility has an initial term of 24 months. Drawdowns may be requested with at least three business days’ written notice and remain subject to the lender’s funding availability.
Any amounts drawn are repayable at the end of the 24-month term, although RC365 may repay all or part of any outstanding balance early without penalty. The company is under no obligation to use the facility.
Chief executive Chi Kit Law said the arrangement reflected his confidence in the group’s long-term strategy and growth prospects following the recent launch of the RC3.0 platform.
“By making this interest-free standby facility available, I am pleased to provide the Company with additional financial flexibility to support its continued development and future growth,” he said.
Separately, RC365 has raised gross proceeds of approximately £750,000 through the placing of 34,090,909 new ordinary shares at 2.2p per share.
In connection with the placing, the company will also issue 2,386,364 broker warrants to Bowsprit Partners. The warrants will be exercisable at the placing price for three years from admission, subject to sufficient shareholder authorities and applicable legal and regulatory requirements.
Admission of the placing shares to trading is expected to become effective at 8.00 a.m. on or around 14 July 2026.
Following admission, RC365’s enlarged issued share capital will comprise 211,001,330 ordinary shares, carrying the same number of voting rights.
As LYS Limited is both a substantial shareholder in RC365 and wholly owned by the company’s chief executive, the standby credit facility constitutes a related party transaction under the UK Listing Rules.
RC365 said its independent directors had reviewed the terms of the facility and considered them fair and reasonable as far as shareholders are concerned.
Enquires:
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RC365 Holding plc |
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Chi Kit LAW, Chief Executive Officer |
T: +852 2251 1621 |
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About RC365 Holding plc
RC365 Holding plc (LON: RCGH) is an established payment solutions and fintech company. It operates primarily in East and Southeast Asia through its core subsidiaries of Regal Crown Technology and the recently acquired HC Capital. For over 10 years, the Company has delivered efficient and secure payment gateway solutions and IT support and development services for payment and financial systems, including ERP solutions. In 2021, it commenced providing digital remittance and payment services, which expanded to include foreign exchange and asset linked credit card solutions. These services are provided to multinational merchants, SMEs and individuals. RC365 intends to expand into the virtual banking market and geographically, including in the UK and wider Europe.
For more information, visit: https://www.rc365plc.com
