REG - Fiinu PLC - Issue of Equity, Related Party Transaction

FiinuAnnouncement

07/08/2025 18:30

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RNS Number : 4984U  Fiinu PLC  07 August 2025

The 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.

 

7 August 2025

 

Fiinu Plc

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

 

Issue of Equity in lieu of Director fees and Adviser Fees

Related Party Transaction

 

Fiinu Plc (AIM: BANK) a fintech group, creator of the Plugin Overdraft®,
today announces that it has issued 2,117,740 new ordinary shares at 10 pence
per share ("Director Shares") to settle outstanding Non-Executive Director
fees. Additionally, Fiinu has also issued 500,000 new ordinary shares at 10
pence per share ("Adviser Shares") to settle outstanding fees owed to the
Company's Nominated Adviser, SPARK Advisory Partners Limited ("SPARK").

Director Shares

David Hopton has agreed to take deferred income of £211,774 through the issue
of 2,117,740 new ordinary shares at a price of 10 pence per share.

Following the issue of these shares, and the Adviser Shares, David Hopton's
total beneficial interest in the Company is 3,514,065 ordinary shares,
representing approximately 1.21% of the Company's issued share capital.

Related Party Transaction

David Hopton is a Director of the Company and therefore considered a related
party under the AIM Rules. As the issue of equity in lieu of fees is
considered to be outside the terms of his agreement with the Company, the
issue of 2,117,740 new ordinary shares to David Hopton is considered to be a
related party transaction. The Independent Directors, being all Directors
other than David Hopton, having consulted with SPARK, the Company's Nominated
Adviser, believe that the terms of the issue of equity to Mr Hopton are fair
and reasonable insofar as the Company's shareholders are concerned.

Adviser Shares

SPARK, the Company's Nominated Adviser, has agreed to accept 500,000 ordinary
shares at a price of 10 pence per share in lieu of £50,000 owed in
outstanding fees.

Admission and Total Voting Rights

Application will be made for the admission of the Director Shares and Adviser
Shares to trading on AIM, which is expected to become effective on or about 12
August 2025.

Following admission of the Director and Adviser Shares, the total issued share
capital of the Company will consist of 289,864,986 ordinary shares of 10 pence
each. The Company does not hold any ordinary shares in Treasury, therefore the
total voting rights in the Company following Admission will be 289,864,986.
This figure may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

Additional information

The following disclosures are made in accordance with the requirements of the
UK Market Abuse Regulation and provide detail in relation to the purchase of
Ordinary Shares by Directors and other PDMRs in the Company.

NOTIFICATIONS AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         David Hopton

 2   Reason for the notification
 a)  Position/status                                              Non-Executive Chairman
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Fiinu plc
 b)  LEI                                                          213800XSRH9SNN1EXX92
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of Fiinu plc

                                                                  ISIN GB0033881904
 b)  Nature of the transaction                                    Issuance of ordinary shares in settlement of cash fees
 c)  Price(s) and volume(s)                                       Price     Volume
                                                                  10 pence  2,117,740 ordinary shares
 d)  Aggregated information                                       Price     Aggregate Volume

- Aggregated volume                                         10 pence  2,117,740 ordinary shares
     - Price
 e)  Date of the transaction                                      7 August 2025
 f)  Place of the transaction                                     Off market

b)

Nature of the transaction

Issuance of ordinary shares in settlement of cash fees

c)

Price(s) and volume(s)

 Price     Volume
 10 pence  2,117,740 ordinary shares

d)

Aggregated information

 -  Aggregated volume
 -  Price

 Price     Aggregate Volume
 10 pence  2,117,740 ordinary shares

e)

Date of the transaction

7 August 2025

f)

Place of the transaction

Off market

 

Further announcements will be made as appropriate.

 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) 207 470 0470

 Bruce Fraser/Ezgi Senturk

 Oberon Investments 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

 

 

About Fiinu

 

Fiinu, founded in 2017, is a fintech group, that developed the Plugin
Overdraft® which is an unbundled overdraft solution that allows customers to
have an overdraft without changing their existing bank. The underlying Bank
Independent Overdraft® technology platform is bank agnostic, that therefore
enables it to serve all other banks' customers. Open Banking allows Fiinu's
Plugin Overdraft® to attach ("plugin") to the customer's existing bank
accounts, no matter which bank they may use. Fiinu's vision is built around
Open Banking, and it believes that it increases competition and innovation in
UK banking.

 

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

 

 

 

 

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