NYCE International Plc (AQUIS:NYCE) (AQUIS: NYCE) said in an announcement it has raised £100,000 via a loan from existing shareholder Gana Media Group Plc, carrying a 7% per annum coupon and repayable within 12 months from 9 March 2026.
The company said the Loan Funding will be provided by Gana in tranches as required and that proceeds will be used to fund NYCE's working capital requirements. Gana and NYCE are also in discussions to integrate NYCE’s NirmataPlay games aggregator into Estadio Gana Mexico.
The announcement described NirmataPlay as "NYCE International's proprietary iGaming aggregator designed to streamline and accelerate access to top-performing game content." The company added that the loan constitutes a related party transaction because Farzad Peyman-Fard, NYCE's CEO, is also a non-Executive Director of Gana.
The company said in the announcement: "The Directors of NYCE, with the exception of Farzad Peyman-Fard, confirm that, having exercised reasonable care, skill and diligence, the terms of the transaction are fair and reasonable insofar as the shareholders of NYCE are concerned."
The recap
• £100,000 loan provided by Gana Media Group (existing shareholder). • 7% per annum coupon; repayable within 12 months from 9 March 2026; funds to be drawn in tranches as required. • Proceeds to fund working capital; CEO Farzad Peyman-Fard is a non-Executive Director of Gana and the transaction is a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook.
