REG - Honye Financial Svcs - Statement re Fundraising Update

Honye Financial ServicesAnnouncement

15/04/2025 15:30

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RNS Number : 1544F  Honye Financial Services Ltd  15 April 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK
LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI
2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

15 April 2025

 

Honye Financial Services Ltd

 (the "Company" or "Honye")

Fundraising Update

The Company wishes to provide an update in relation to the previously
announced investment into the Company by Abdullah Alnuwaysir (the "Investor")
and related agreements as announced on 23 August 2024.  The Company announces
today that it has agreed to revise certain terms of the original agreements.

By mutual agreement, the parties have agreed to the following amendments:

·      The parties agreed to reduce the total investment amount from
£1,500,000 to £1,000,000 .

·      Based on the originally agreed investment price of £0.405 per
share, Clause 1.2 has been amended to reflect the issuance of 2,469,136
Ordinary Shares in Honye to the Investor.

As part of the overall arrangements with the Investor, Honye had agreed to
assist the Investor in procuring Zoyo Capital Limited ("Zoyo"), Honye's RTO
target, to grant him or entities associated with him a white-label license to
use its technology, which was effected by the Investor and Zoyo entering into
a white-label license agreement with Zoyo, dated 14 August 2024 ("License
Agreement").

The parties have also agreed that the £500,000 reduction in the original
investment amount (from £1,500,000 to £1,000,000) shall be reallocated as a
technology setup fee under the  License Agreement.

All other terms and conditions of the original agreements remain unchanged.

Shaun Wootton, Non-Executive Chairman, added:

"We welcome the revised investment terms, which strengthen our strategic
alignment with the Investor and will support the timely rollout of Zoyo's
technology platform."

-Ends-

Further information:

 

 Honye Financial Services Ltd  shaun@rosellecapital.com

 Shaun Carew-Wootton

 

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