REG - ADVFN PLC - Corporate update

ADVFNAnnouncement

15/08/2023 18:15

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RNS Number : 4205J  ADVFN PLC  15 August 2023

15 August 2023
For immediate release
ADVFN PLC

("ADVFN" or the "Company")

Corporate update

 

As previously announced in the trading update in June earlier this year, the
Company has made significant progress in addressing legacy constraints and
complexities which required substantial investment in technology and
infrastructure, and a change in leadership, and organisational structure.

 

As part of those changes, and with a focus on the Company's core ADVFN
platform, the Board decided to wind down ALL IPO's operations as it has had
minimal activity and had been unprofitable. All IPO has now ceased all
regulated activities and off-boarded clients and, subsequently at the
Company's request, All IPO's Part IV permission has been cancelled by The
Financial Conduct Authority (FCA). The winding down of ALL IPO follows similar
decisions to close fotothing, MJAC and other dormant subsidiaries.

A copy of this announcement is available on the Company's website,
www.advfnplc.com.

For further information please contact:

 ADVFN plc                                        +44 (0) 203 8794 460

 Amit Tauman (CEO)
 Beaumont Cornish Limited (Nominated Adviser)     +44 (0) 207 628 3396

 Michael Cornish

 Roland Cornish
 Peterhouse Capital Limited (Broker)              +44 (0) 207 469 0930

 Eran Zucker / Lucy Williams / Rose Greensmith

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018. The person who arranged for the release
of this announcement on behalf of the Company was Amit Tauman, Director.

 

 

 

 

 

 

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