- Investment company Papillon Holdings said it had agreed to acquire 50% of Pace Cloud, a fintech company focused on the used car market, for an undisclosed sum

Papillion also launched a £500k convertable bond issue to help fund the deal.

The notes carred an interest coupon of 10% per annuam over their minimum term of 12 months, with a conversion price of 1.25p per new Papillon share.

The company continues to review other investments as part of its stated strategy to invest in companies or assets in the industrial and services sectors,' Papillion said.

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