IFX Payments announces lapsing of recommended acquisition of Argentex
IFX (UK) Ltd, (“IFX Payments”) today issued a statement regarding the recommended cash acquisition of Argentex Group PLC.
IFX Payments
Argentex LLP placed into Special Administration
The Board of Argentex announced today that Argentex LLP has, following Court Approval received on 21 July 2025, been placed into Special Administration.
IFX Payments may not implement acquisition of Argentex
IFX (UK) Ltd (“IFX Payments”) today issued a statement regarding the proposed acquisition of Argentex.
Argentex increases revolving credit facility provided by IFX Payments
Argentex has increased its existing £20 million revolving credit facility (RCF) provided by IFX Payments to £26.5 million.
Argentex shareholders approve acquisition by IFX Payments
The requisite majority of Argentex Shareholders voted to pass the Special Resolution at the General Meeting to approve the implementation of the Scheme.
Argentex accepts IFX Payments £3 million offer for the company
IFX’s offer values Argentex at just £3 million – a 94% discount to the company’s £52 million valuation when Argentex last traded.
IFX Payments offering 2.49p per Argentex share, provides £6.5M bridge loan
The 2.49 pence-per-share offer equates to a market value of just £3.1 million for Argentex.
Argentex confirms advanced discussions with IFX Payments regarding possible acquisition offer
The Board of Argentex today confirmed that it has received non-binding indicative proposals regarding separate possible offers for the company.
