Funding arrangements update, Director resignation

Boston International Holdings PLC

02 April 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH (AS AMENDED [BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310)) IS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").  UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

2 April 2026

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Update on Funding Arrangements

Resignation of Director

Further to the Company's announcement on 6 March 2026, the board of directors of BIH (the "BIH Board") provides a further update on the Company's funding arrangements and details of the resignation of a Director of the Company.

Funding Arrangements

As announced on 1 December 2025 and again on 6 March 2026, Zarara Energy Ltd ("ZEL"), the Company's 60% shareholder, which has provided a bridge loan facility of up to £393,625.34 (as increased on 6 March 2026) to be drawn down in tranches, to assist with the Company's working capital requirements, including certain specified additional corporate and regulatory costs due in the first six months of 2026 (the "ZEL Loan Facility"), informed the Company of some short term liquidity issues arising from an earlier loan (US$1.5 million) which ZEL made to a potential acquisition target ("Target"), such that it had not been able to meet its commitments to the Company under the ZEL Loan Facility. As of date of this announcement, ZEL has a balance commitment of £185,273 to be paid to BIH for meeting its current financial obligations.

ZEL had previously confirmed to the BIH Board that it was confident that the loan money would be sufficiently recovered by ZEL by 31 March 2026 to enable full funding availability under the ZEL Loan Facility, but that has not happened as ZEL has not itself received the return of its loan from the Target by the agreed date and has therefore not been put in funds to meet its obligations to BIH.

However, ZEL has now informed the Company that the Target has confirmed that it will repay its debt to ZEL in monthly instalments commencing on 15 April 2026 to 15 July 2026 and that provided that it does so, this will enable ZEL to meet its obligations to BIH under the ZEL Loan Facility. Furthermore, ZEL has assured the Company that it will source funding from other sources to meet the Company's pressing financial needs by making advances under the ZEL Loan Facility.

As referred to in the Company's announcement on 6 March 2026, the BIH Board has identified the need for additional general working capital of approx. £150,000 for the next 12 months (the "Further Funding Requirement") which will need to be financed for example in conjunction with any potential acquisition/reverse takeover discussions.

It should be noted that the ongoing financial viability of the Company is dependent upon the receipt of the full outstanding funding under the ZEL Loan Facility to meet its immediate working capital needs and thereafter funding from other sources, which might be in conjunction with a potential acquisition, to meet the Further Funding Requirement. There can be no guarantee that this will be forthcoming.

Resignation of Director

The BIH Board also announces that William Borden James has resigned as a Non-Executive Director of the Company with effect from 31 March 2026.

The BIH Board thanks Borden for his contribution to the Company during his tenure and wishes him well for the future.

Given the need to conserve financial resources, the BIH Board is not currently anticipating appointing a replacement Non-Executive Director.

For further information, please contact:-

Boston International Holdings Plc
Christopher Pitman, Chairman	[e-mail]

 

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