REG - KRM22 PLC - Subscription Completion, Executive Changes and TVR

KRM22Announcement

30/12/2021 09:50

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RNS Number : 0522X  KRM22 PLC  30 December 2021

KRM22 plc

("KRM22", the "Group" or the "Company")

Completion of Subscription, Executive Changes and Total Voting Rights

 

KRM22 plc, (AIM: KRM) the technology and software investment company that
focuses on risk management for capital markets, is pleased to announce the
completion of the subscription for 8,916,584 new Ordinary Shares at a price of
53 pence per share to raise approximately £4.7m for 25 per cent. of the
enlarged share capital of the Company by Trading Technologies International,
Inc. ("TT") a wholly-owned subsidiary of 7RIDGE Investments 3 LLP ("7RIDGE").

Further to the announcement of 1 November 2021, the Company has also entered
into a distribution agreement (the "Agreement") with TT to market and
distribute KRM22 risk management products to their customers.

As a result of completion of the Subscription, and as described in the
announcement of 1 November 2021, Keith Todd will relinquish his role as CEO of
KRM22 while remaining Executive Chairman of the Company and Stephen Casner,
President of KRM22, now succeeds Keith Todd as CEO of the Company.  Keith
Todd has been appointed CEO of TT.

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the 8,916,584
Ordinary Shares to be admitted to trading on AIM ("Admission") and it is
expected that Admission will become effective and trading will commence at
8.00 am on 31 December 2021.

After Admission, the total number of Ordinary Shares in issue will be
35,666,336 and the total number of voting rights will therefore be
35,666,336.  This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.

 

Keith Todd CBE, Executive Chairman at KRM22 commented: "The completion of the
share subscription and distribution agreement will provide KRM22 with a
springboard for growth in 2022.  I'm very excited to announce Stephen Casner
as CEO.  We have been working together on KRM22 since 2018 and have a common
and aligned view of the Company's strategy and operational approach."

 

Capitalised terms not otherwise defined in this announcement shall have the
same meaning ascribed to such terms in the Company's announcement on 1
November 2021 regarding the Subscription, unless the context requires
otherwise.

 

For further information please contact:

 

KRM22
plc
InvestorRelations@krm22.com

Keith Todd CBE, Executive Chairman

Stephen Casner, CEO

Kim Suter, CFO

 

finnCap Ltd (Nominated Adviser and Sole
Broker)                  +44 (0)20 7220 0500

Carl Holmes / Kate Bannatyne

Alice Lane / Sunila de Silva (ECM)

 

The information communicated in this announcement is inside information for
the purposes of Article 7 of Regulation 596/2014.

 

About KRM22 plc

KRM22 is a closed-ended investment company which listed on AIM on 30 April
2018.  The Company has been established with the objective of creating value
for its investors through the investment in, and subsequent growth and
development of, target companies in the technology and software sector, with a
focus on risk management in capital markets.

Through its investments and the Global Risk Platform, KRM22 helps capital
market companies reduce the cost and complexity of risk management.  The
Global Risk Platform provides applications to help address firms' market,
compliance, operations and technology risk challenges and to manage their
entire enterprise risk profile.

Capital markets companies' partner with KRM22 to optimise risk management
systems and processes, improving profitability and expanding opportunities to
increase portfolio returns by leveraging risk as alpha.

KRM22 plc is listed on AIM and the Group is headquartered in London, with
offices in several of the world's major financial centres.

See more about KRM22 at www.krm22.com (http://www.krm22.com) .

 

About 7RIDGE

7RIDGE is an asset manager invested in transformative technology with a focus
on B2B companies within the financial services sector.  7RIDGE has deep
domain knowledge and strong networks, as well as a proven operating and
investment track record which distinguish the team and empower its strategy.

 

About Trading Technologies

Trading Technologies (www.tradingtechnologies.com
(http://www.tradingtechnologies.com/) , @Trading_Tech
(https://twitter.com/trading_tech) ) creates professional trading software,
infrastructure and data solutions for a wide variety of users, including
proprietary traders, brokers, money managers, CTAs, hedge funds, commercial
hedgers and risk managers.  In addition to providing access to the world's
major international exchanges and liquidity venues via its TT® trading
platform, TT offers domain-specific technology for cryptocurrency trading and
machine-learning tools for trade surveillance.

 

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