REG - TruFin PLC TruFin PLC - Playstack enters into LoI for sale of Interact

TrufinAnnouncement

21/11/2023 07:00

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RNS Number : 0522U  TruFin PLC  21 November 2023

21 November 2023

RNS

 

TruFin plc

("TruFin" or the "Company")

 

Playstack Limited ("Playstack") enters into Letter of Intent for sale of
Interact platform

 

TruFin is pleased to announce that its subsidiary Playstack, the leading UK
games publisher, has entered into a Letter of Intent to sell IP and assets
(the "Disposal Assets") of its augmented reality and gamification AdTech
platform "Interact" to VCI Global Limited ("VCIG") (the "Disposal").

 

Nasdaq-listed VCIG is a leading multi-disciplinary consulting group with key
business and technology advisory practices, headquartered in Malaysia.

 

There can be no certainty as to the completion of the Disposal and whilst
transaction terms are to be confirmed, any cash consideration is not expected
to be significant in the context of the wider Company. TruFin will provide
further updates as appropriate. The Disposal Assets are held at zero value on
the Company's balance sheet.

 

As previously announced, Playstack is now focused on its technology-led games
publishing business. This proposed transaction will give Playstack additional
resources to support its burgeoning publishing pipeline, while allowing
Interact to flourish within VCIG's synergistic environment.

For further information, please contact:

 

 TruFin plc                                                         0203 7431340
 James van den Bergh, Chief Executive Officer
 07779 229508

Kam Bansil, Investor Relations
 Liberum Capital Limited (Nominated Adviser and Corporate broker)  0203 100 2000

 Chris Clarke

 Edward Thomas

TruFin plc is the holding company of an operating group comprising three
growth-focused technology businesses operating in niche markets: early payment
provision, invoice finance and mobile games publishing. The Company was
admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More
information is available on the Company website: www.TruFin.com.

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