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REG - Dianomi PLC - Banking Facilities Update

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RNS Number : 7326S  Dianomi PLC  13 March 2023

13 March 2023

Dianomi plc

("Dianomi", the "Company" or the "Group")

Banking Facilities Update

 

Dianomi, a leading provider of native digital advertising services to premium
clients in the Business, Finance and Lifestyle sectors, provides a further
update with respect to its banking facilities with SVB Financial Group ("SVB")
and Silicon Valley Bank UK Limited ('SVBUK').

After receiving a recommendation from the boards of the Federal Deposit
Insurance Corporation ("FDIC") and the Federal Reserve, Secretary of Treasury
of the U.S. Government Janet Yellen approved actions enabling the FDIC to
complete its resolution of SVB, in a manner that fully protects all
depositors. Dianomi will therefore have access to all its funds in SVB,
amounting to £0.9 million, as from today.

Furthermore, the The Bank of England ("Bank"), in consultation with the
Prudential Regulation Authority ("PRA"), HM Treasury ("HMT") and the Financial
Conduct Authority ("FCA"), has taken the decision to sell SVBUK to HSBC UK
Bank Plc ("HSBC"). HSBC is authorised and supervised by the PRA and the FCA.
The Bank and HMT have confirmed that all depositors' money with SVBUK is safe
and secure as a result of this transaction. SVBUK's business will continue to
be operated normally by SVBUK. Dianomi holds funds totalling £2.9 million
with SVBUK.

As a result, Dianomi's financial position has not been affected by the
collapse of SVB or SVBUK and its total cash balances are unchanged at circa
£9.6 million, with no debt.

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. It forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement, this inside information is now considered to be in the public
domain.

 

 

For further information contact:

 Dianomi                                         Tel: +44 (0)207 802 5530

 Rupert Hodson (Chief Executive Officer)

 Charlotte Stranner (Chief Financial Officer)

 Panmure Gordon (NOMAD and Broker)               Tel: +44 (0)207 886 2500

 Emma Earl/ Freddy Crossley, Corporate Finance

 Rupert Dearden, Corporate Broking

 Novella Communications                          Tel: +44 (0)203 151 7008

 Tim Robertson / Safia Colebrook

About Dianomi

Dianomi, established in 2003, is a leading provider of native digital
advertising services to premium clients in the Business, Finance and Lifestyle
sectors. The Group operates from its offices in London, New York and Sydney.
The Group enables premium brands to deliver native advertisements to a
targeted audience on the desktop and mobile websites, mobile and tablet
applications of premium publishers. It provides over 400 advertisers,
including blue chip names such as abrdn, Invesco and Charles Schwab, with
access to an international audience of over 500 million devices per month
through its partnerships with over 300 premium publishers, including blue chip
names such as Reuters, CNN Business and WSJ. Adverts served are contextually
relevant to the content of the webpages on which they appear and mirror the
style of the page, which enhances reader engagement. http://www.dianom
(http://www.dianom) i.com (http://www.dianomi.com/) .

 

 

 

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