Tintra PLC Repayment & Termination of Placement Facility (0373F)
05 Juli 2023 - 8:00AM
UK Regulatory
TIDMTNT
RNS Number : 0373F
Tintra PLC
05 July 2023
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIED OR MAY
HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7
OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK
DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
("UK MAR")
5 July 2023
Tintra plc
("Tintra", the "Group" or the "Company")
Update in relation to full repayment and termination of the
Placement Facility
The board of directors (the "Board") of Tintra, the rapidly
innovating Deep Tech & Banking business, is pleased to announce
that the Company has entered into an agreement for full and final
settlement (the "Agreement") with Fintech Leaders Fund, LLC
("FLF"), in relation to the share placement deed that was announced
on 16 December 2022 (the "Deed"). Under the Agreement, the Company
has agreed with FLF to fully repay all the funds originally raised
pursuant to the Deed, along with a premium as provided for in the
Deed, and to terminate the Deed.
Background
On 16 December 2022, the Company announced, amongst other
matters, the completion of an investment by FLF whereby the Company
received US$3,000,000 as a prepayment for ordinary shares with the
par value of 1 pence each in the capital of the Company ("Ordinary
Shares").
Repayment terms
Under the Agreement, the Company and FLF will bring the Deed to
an end by a payment of GBP3,030,000 (the "Cash Repayment Amount")
pursuant to the Deed. The Cash Repayment Amount will consist of a
payment of GBP500,000 within the next 3 business days and a payment
of GBP2,530,000 no later than 4 August 2023 (which the Company will
pay from its existing cash resources).
Following the receipt of the Cash Repayment Amount, neither FLF
nor Tintra will have any remaining payment obligations to each
other, whether in cash or Ordinary Shares, the Deed will be
terminated, and FLF will withdraw the two statutory demands
described in Tintra's announcement of 5 May 2023.
For further information, contact:
Website www.tintra.com 020 3795 0421
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek
Bhardwaj 020 3328 5656
This announcement is released by Tintra plc and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of UK MAR, encompassing
information relating to the placement mentioned above. For the
purposes of UK MAR, this announcement is made by Hannah Hatfield,
Communications Head of Tintra plc.
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END
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