REG - Fiinu PLC - £2m Convertible Loan Agreement - Conister Bank Ltd

FiinuAnnouncement

22/09/2025 07:00

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RNS Number : 2185A  Fiinu PLC  22 September 2025

Information contained within this Announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 which forms part of English law by virtue of the European
Union (Withdrawal) Act 2018, as amended. Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

22 September 2025

 

Fiinu Plc

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

£2m Convertible Loan Agreement with Conister Bank Limited

Fiinu Plc (AIM: BANK), a fintech group and creator of the Plugin Overdraft®,
announces that it has entered into an unsecured Sterling term loan facility
agreement ("Facility Agreement") with Conister Bank Limited ("Conister"), the
wholly owned banking subsidiary of Manx Financial Group PLC (AIM: MFX), for up
to £2,000,000 (the "Loan").

The Loan carries an interest rate of 10% per annum, payable annually in cash,
with a repayment date falling 24 months from drawdown, unless converted into
Fiinu equity earlier in accordance with the terms of the Facility Agreement.

Under the Facility Agreement, Conister has the right to convert the entire
Loan into 20 million new ordinary shares in Fiinu. This conversion price,  of
10p per new ordinary share, was negotiated some time ago when Fiinu's share
price was below 10p, and therefore reflects market conditions at that time.
With Fiinu's shares currently trading at a premium to the agreed conversion
price, the arrangement underscores both the financial flexibility of the
facility and the strategic importance of the partnership between Fiinu and
Manx Financial Group.

Any shares issued pursuant to the conversion of the Loan will rank pari passu
with the Company's existing ordinary shares and will be admitted to trading on
AIM. The proceeds from the Loan will be used to support the Company's working
capital requirements and to drive growth in Fiinu's businesses.

Commenting on the Agreement

Dr Marko Sjoblom, CEO of Fiinu Plc, said:

"We are pleased to have secured this flexible financing arrangement with
Conister, which not only strengthens our capital position but also provides us
with additional working capital support for our fast-growing FX brokerage in
Poland. We expect the Loan to be converted in due course, which will see Manx
Financial Group, through Conister Bank, become a strategic investor in Fiinu."

Douglas Grant, Managing Director of Conister Bank and CEO of Manx Financial
Group PLC, added:

"This facility is part of the Group's strategy to enhance its lending
technology by integrating with experienced market-leading product providers.
The optionality within this facility also allows the Group to generate a
return greater than debt interest alone, while positioning Manx Financial
Group as a strategic partner with Fiinu."

Further announcements will be made as appropriate.

The Directors of the Company are responsible for the release of this
announcement

*ENDS*

For further information, please contact: 

 Fiinu Plc                                        Tel: +44 (0) 1932 629 532

 Dr. Marko Sjoblom - CEO

 SPARK Advisory Partners Limited (Nomad)          Tel: +44 (0) 203 368 3550

 Mark Brady/Jade Bayat

 SP Angel Corporate Finance LLP (Joint Broker)    Tel: +44 (0) 207 47 0470

 Bruce Fraser/Ezgi Senturk

 Oberon Investment Limited (Joint Broker)         Tel: +44 (0)203 179 5300

 Nick Lovering/ Adam Pollock/ Mike Seabrook

 Brazil (Financial PR)                            Tel: +44 (0) 207 785 7383

 Joshua van Raalte /Jamie Lester/Christine Webb

 

For more information, please visit www.fiinuplc.com (http://www.fiinuplc.com)

 

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