Dutch investor Haerlem Capital tries to gatecrash sale of FX firm Argentex

A Dutch backstage equity capitalist is trying to gatecrash the exigency merchantability of Argentex Group, a London-listed currency absorption steadfast caught successful the fiscal crossfire of Donald Trump's tariffs crusade.

Sky News has learnt that Haerlem Capital has approached the committee of Argentex with a connection that would spot it injecting £5m successful speech for a 50% involvement successful the company.

Haerlem Capital has besides offered to supply a £15m backing enactment to Argentex arsenic portion of the deal, according to radical adjacent to the situation.

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Sources said the attack had been rebuffed due to the fact that it was deemed unworkable successful the discourse of a merchantability of the full company, which has already been agreed to IFX Payments.

Argentex shareholders are scheduled to ballot connected the IFX woody connected Wednesday.

In April, Argentex, whose clients see the FTSE 100 insurer Aviva, plus manager Barings, and Triumph Motorcycles, said it had been "exposed to important volatility successful overseas speech rates, peculiarly successful narration to the accelerated devaluing of the US Dollar against different large benchmark currencies which has been precipitated by the assorted caller announcements from President Trump regarding tariff policies and US authorities spending cuts".

The institution was forced into exigency merchantability talks, with its committee yet succeeding successful securing a woody connected a solvent ground - albeit astatine a steeply discounted price

It announced precocious past period that it had drawn down £6.4m of a £20m revolving recognition installation provided by IFX Payments.

"These drawn amounts are successful summation to the £10.5m secured bridging indebtedness provided by IFX Payments and person been applied to guarantee that the Company remains wrong its liquid assets threshold request (LATR) and to fulfill definite borderline calls from its liquidity providers," it said.

Argentex floated connected London's inferior AIM marketplace successful 2019, and counts Lord Jones, the erstwhile CBI boss, among its committee members.

Shares successful the company, which precocious resumed trading connected the inferior AIM banal market, were changing hands for astir 2.5p connected Monday morning, giving Argentex a marketplace capitalisation of conscionable nether £3m.

A spokesperson for Argentex declined to remark connected the attack from Haerlem Capital.