REG - Fiinu PLC - Equity Fundraise and Total Voting Rights

FiinuAnnouncement

14/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250214:nRSN1135Xa&default-theme=true

RNS Number : 1135X  Fiinu PLC  14 February 2025

The information contained within this announcement is deemed by the Company to
constitute inside information under the UK Market Abuse Regulations. Upon the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

14 February 2025

Fiinu Plc

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

Equity Fundraise and Total Voting Rights

 

Fiinu, a fintech group and creator of the Plugin Overdraft®, is pleased to
announce that it has raised gross proceeds of £1,250,000 through the issue of
12,500,000 new ordinary shares at 10 pence per share (the "Subscription
Shares"). The Subscription Shares were issued in response to market demand,
and the funds will be utilised to develop its Plugin Overdraft® product as a
white-label offering, as previously announced, and to provide additional
working capital.

The Fundraising is subject to the Subscription Shares being admitted to
trading on AIM ("Admission"). The Company has the authority to issue and allot
the Subscription Shares pursuant to certain existing shareholder authorities
granting such powers to the directors at the Company's Annual General Meeting
held on 24 May 2024. Application will be made for the Subscription Shares,
which will rank pari passu with the existing ordinary shares, to be admitted
to trading on AIM. Admission is expected to occur on or around 19 February
2025.

Following the issue of the Subscription Shares, the total issued share capital
of the Company will consist of 287,247,246 ordinary shares of 10 pence each.
The Company does not hold any ordinary shares in Treasury, therefore the total
voting rights in the Company following Admission will be 287,247,246. This
figure may be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

The Directors of the Company are responsible for the release of this
announcement

*ENDS*

For further information, please contact: 

 Fiinu Plc                                                     Tel: +44 (0)1932 629 582

 Dr. Marko Sjoblom, marko@fiinu.com (mailto:marko@fiinu.com)
 SPARK Advisory Partners Limited (Nomad)                       Tel: +44 (0) 203 368 3550

 Mark Brady / Jade Bayat
 SP Angel Corporate Finance LLP (Joint Broker)                 Tel: +44 (0) 207 470 0470

 Bruce Fraser / Ezgi Senturk
 Oberon Capital  (Joint Broker)                                Tel: +44 (0)203 179 5355

 Nick Lovering / Adam Pollock

 

 

About Fiinu

Fiinu, founded in 2017, is a fintech group that has developed the Plugin
Overdraft®, an unbundled overdraft solution that allows customers to have an
overdraft without changing their existing bank. The underlying bank
Independent Overdraft® technology platform is bank agnostic, enabling it to
serve all other banks' customers. The Plugin Overdraft® platform can
technically access over 100 million bank accounts in the UK. Open Banking
allows Fiinu's Plugin Overdraft® to attach ("plugin") to the customer's
existing primary bank account, no matter which bank they may use. Fiinu's
vision is built around Open Banking, and it believes it increases competition
and innovation in banking.

 

For more information, please visit www.fiinuplc.com (http://www.fiinuplc.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEEAEALFDKSEEA