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Argentex Group. (AGFX) Share News

UPDATE: IFX set to revoke takeover offer due to Argentex insolvency

21st Jul 2025 09:07

Argentex Group PLC - London-based currency risk management firm - IFX (UK) Ltd, trading as IFX Payments, says it is consulting with the UK Takeover Panel about invoking the insolvency condition of its takeover offer for Argentex, which allows it to revoke the offer. The IFX announcement early Monday follows the decision by Argentex on Friday to appoint administrators for the company and subsidiaries. Argentex has applied to the court to have operating subsidiary Argentex LLP placed into special administration under UK payment and electronic money institution insolvency regulations. Read More

UPDATE: UK FCA orders to Argentex to end all regulated activity

21st Jul 2025 06:54

Argentex Group PLC - London-based currency risk management firm - Decides on Friday to appoint administrators for the company and subsidiaries. Applies to the court to have operating subsidiary Argentex LLP placed into special administration under UK payment and electronic money institution insolvency regulations. Earlier Friday, Argentex said the UK Financial Conduct Authority had ordered Argentex LLP "to cease all regulated activity, to not register and onboard new customers, and to not open any new foreign exchange trades". Under the "voluntary" agreement, Argentex also must "take all reasonable steps to stop incoming payments from existing customers". Read More

IN BRIEF: UK FCA orders to Argentex to end all regulated activity

18th Jul 2025 10:20

Argentex Group PLC - London-based currency risk management firm - The UK Financial Conduct Authority orders Argentex operating subsidiary Argentex LLP "to cease all regulated activity, to not register and onboard new customers, and to not open any new foreign exchange trades". Under the "voluntary" agreement, Argentex also must "take all reasonable steps to stop incoming payments from existing customers". It follows the FCA's supervision of Argentex amid "liquidity pressures" caused by currency market volatility. Argentex had until Tuesday this week to find additional funding by means of a secured revolving credit facility but was unable to do so. As a result, its shares were suspended from trading in London on Thursday. They had plummeted more than 90% since April, when Argentex revealed a sharp deterioration in its short-term liquidity position. Read More

Argentex shares rise as it rejects Lavide offer over funding shortfall

9th Jun 2025 13:03

(Alliance News) - Argentex Group PLC on Monday confirmed it has rejected a proposal from Lavide Holding NV, saying the approach does not represent an offer for the full company and falls well short of the funding it needs to continue trading. Read More

UK shareholder meetings calendar - next 7 days

4th Jun 2025 13:05

IN BRIEF: Argentex utilises credit facility to support liquidity

30th May 2025 20:10

Argentex Group PLC – London-based currency risk management firm – Says it drew down GBP5.7 million from its GBP20 million revolving credit facility on Wednesday this week. Notes total facility utilisation of GBP6.4 million, in addition to GBP10.5 million bridging loan from IFX Payments, the RCF provider. Says the funds are for remaining within the liquid asset threshold requirement and for the satisfaction of certain margin calls from liquidity providers. Notes "significantly reduced" trading levels since restoration of shares on AIM earlier this month. Read More

LONDON MARKET MIDDAY: London rises as EU strives for US trade deal

30th May 2025 11:54

(Alliance News) - European blue chips remained in the green at midday on Friday, as the EU remains committed to reaching a trade deal with the US and investors look to a US core personal consumption expenditures reading in the afternoon. Read More

Argentex suitors Clune, Adams and Lumon end takeover interest

30th May 2025 11:42

(Alliance News) - Argentex Group PLC was left with just one potential buyer on Friday, after Lumon Acquisitions Ltd, as well as Irish fintech entrepreneur Terry Clune and former Argentex Chief Executive Officer Harry Adams, each confirmed they no longer intend to make an offer for the UK-based currency services firm. Read More

LONDON MARKET MIDDAY: London stocks red as services sector contracts

6th May 2025 12:00

(Alliance News) - European stocks were in the red at midday on Tuesday, following an unexpected vote that saw German conservative leader Friedrich Merz fail to be elected as chancellor. Read More

AIM WINNERS & LOSERS: Facilities by ADF posts loss, tariff worry ahead

6th May 2025 11:00

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday. Read More

IN BRIEF: CEO leaves as Argentex accepts IFX Payments takeover offer

28th Apr 2025 09:10

Argentex Group PLC - London-based currency risk management - Chief Executive Officer Jim Rudman leaves immediately as Argentex on Friday says it has agreed to a GBP3 million cash takeover offer from IFX (UK) Ltd, trading as IFX Payments. Chief Operating Officer Tim Rudman is appointed as interim CEO. The announcement of Rudman's departure on Friday is made as Argentex and IFX say they have reached agreement on an offer for Argentex by IFX at 2.49 pence per share in cash. Earlier last week, Argentex had said it was in advanced talks with IFX on a possible takeover, as it warned it required an immediate cash injection to ensure solvency. Argentex and IFX on Friday said they have support for the takeover offer representing 58% of Argentex shares. Read More

TRADING UPDATES: Argentex agrees IFX bid; Marula strikes Botswana deal

25th Apr 2025 21:39

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More

Argentex in advanced takeover talks with IFX amid liquidity decline

23rd Apr 2025 12:09

(Alliance News) - Argentex Group PLC on Wednesday said it is in advanced talks with IFX (UK) Ltd on a possible takeover as it warned it requires an immediate cash injection to ensure solvency. Read More

Argentex shares suspended amid liquidity concerns from FX volatility

22nd Apr 2025 08:53

(Alliance News) - Argentex Group PLC on Tuesday said trading in its shares has been suspended on London's AIM market as it grapples with a sharp deterioration in its short-term liquidity position. Read More

IN BRIEF: Argentex Chair Nigel Railton buys GBP120,000 in shares

14th Apr 2025 11:09

Argentex Group PLC - London-based international provider of foreign exchange services to institutions, corporates and high net worth private individuals - Chair Nigel Railton, together with Elizabeth Railton, buys 256,180 shares at 46.4 pence to 47.49p, worth about GBP120,000, on Wednesday to Friday last week. Railton now is interested in 1.7 million shares, a 1.4% stake. Read More

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