Subject to shareholder approval, a further £14m will be converted into cumulative redeemable preference shares and £12m into a new senior debt facility.
A management restructure will see chief executive Simon Edwards step down from the Midas board and take up his previous position as chief executive of Midas Capital Partners Limited. He will focus solely on managing Midas’ fund management activities.
Anthony Moore has been appointed director and chief financial officer of the company.
Midas executive chairman Colin Rutherford says: “We have reached a constructive outcome with BoS and we are pleased with their long term support for Midas.
“The capital structure of the business will be stabilised under these proposals and our key teams can focus fully on investment performance and customer service in a more stabilised working environment.”