REG - Mode Global Holdings - Clarification statement

R8 Capital InvestmentsAnnouncement

19/11/2021 07:00

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RNS Number : 9017S  Mode Global Holdings PLC  19 November 2021

Mode Global Holdings PLC

("Mode" or "the Company" or "the Group")

 

Clarification statement

 

Mode Global Holdings PLC (LSE:MODE), the LSE-listed Fintech Group, notes press
commentary following its 18 November 2021 announcement (the "Announcement") of
its new standalone affiliate product. Mode wishes to clarify, for the
avoidance of doubt, information related to this announcement.

 

The Company reaffirms that it will launch its standalone affiliate product in
Q2 2022, which will see Mode customers receiving Bitcoin Cashback from
participating online retailers in the UK. Currently, over 40 online retailers
have accepted Mode onto their affiliate programmes.

 

In the Announcement, certain specific brands were referenced who, at that
time, had approved Mode to be part of their affiliate programmes, through a
number of intermediary affiliate platforms.

 

As with all affiliate programmes of this nature, it is at the discretion of
the retailer as to how long they wish to remain involved in the programme.
Some of those specified brands have since withdrawn Mode as an affiliate.

Customers will be able to browse Cashback offers from participating retailers
on the Mode app, before going to the selected retailer's website to complete
their purchase. Mode receives a commission in GBP, converts the Cashback into
Bitcoin, before crediting the Bitcoin into the customer's Mode account, where
they can store the asset or take advantage of the Company's FCA registered
exchange to grow their Bitcoin.

Mode's Bitcoin Cashback affiliate product is separate from the Company's other
offerings, which include Mode's previously launched Open Banking payments and
instant Bitcoin Cashback solution. The full list of participating retailers,
as well as the details of their affiliate cashback terms, will be displayed in
the Mode app at the time of launch.

 

 

 

 End

 

About Mode:

 

Mode is an LSE-listed fintech company on a mission to build the world's most
disruptive ecosystem where exchanging value and growing wealth is seamless for
all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on
this mission and offer customers in the UK a one-stop app to shop, earn and
grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper,
safer and smarter alternative to card payments that rewards shoppers with
Bitcoin Cashback.

 

To learn more, visit our customer/business site at www.modeapp.com
(http://www.modeapp.com/) or our investor site at www.modeplc.com
(http://www.modeplc.com/) .

 

Ends

 

Contact

Maitland/AMO (PR): Alasdair Todd or Kate Pledger mode@maitland.co.uk

 

 

 

 

 

 

 

 

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