REG - Tintra PLC - Repayment & Termination of Placement Facility

TintraAnnouncement

05/07/2023 07:00

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RNS Number : 0373F  Tintra PLC  05 July 2023

 THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED
AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR")

 

5 July 2023

 

Tintra plc

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

Update in relation to full repayment and termination of the Placement Facility

The board of directors (the "Board") of Tintra, the rapidly innovating Deep
Tech & Banking business, is pleased to announce that the Company has
entered into an agreement for full and final settlement (the "Agreement")
with Fintech Leaders Fund, LLC ("FLF"), in relation to the share placement
deed that was announced on 16 December 2022 (the "Deed").  Under the
Agreement, the Company has agreed with FLF to fully repay all the funds
originally raised pursuant to the Deed, along with a premium as provided for
in the Deed, and to terminate the Deed.

 

Background

 

On 16 December 2022, the Company announced, amongst other matters, the
completion of an investment by FLF whereby the Company received US$3,000,000
as a prepayment for ordinary shares with the par value of 1 pence each in the
capital of the Company ("Ordinary Shares").

 

Repayment terms

 

Under the Agreement, the Company and FLF will bring the Deed to an end by a
payment of £3,030,000 (the "Cash Repayment Amount") pursuant to the Deed. The
Cash Repayment Amount will consist of a payment of £500,000 within the next 3
business days and a payment of £2,530,000 no later than 4 August 2023 (which
the Company will pay from its existing cash resources).

 

Following the receipt of the Cash Repayment Amount, neither FLF nor Tintra
will have any remaining payment obligations to each other, whether in cash or
Ordinary Shares, the Deed will be terminated, and FLF will withdraw the two
statutory demands described in Tintra's announcement of 5 May 2023.

 

 

For further information, contact:

 

 Website www.tintra.com                            020 3795 0421

 Allenby Capital Limited                           020 3328 5656

 (Nomad, Financial Adviser & Broker)

 John Depasquale / Nick Harriss / Vivek Bhardwaj

 

This announcement is released by Tintra plc and contains information that
qualified or may have qualified as inside information for the purposes of
Article 7 of UK MAR, encompassing information relating to the placement
mentioned above. For the purposes of UK MAR, this announcement is made by
Hannah Hatfield, Communications Head of Tintra plc.

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