REG - Fiinu PLC - Response to Share Price Movement

FiinuAnnouncement

09/01/2024 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240109:nRSI1132Za&default-theme=true

RNS Number : 1132Z  Fiinu PLC  09 January 2024

9 January 2024

 

Fiinu Plc

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

 

Response to Share Price Movement

 

Fiinu, a fintech group, creator of the Plugin Overdraft®, notes the movement
in its share price today and confirms that it is not aware of any material
commercial or operational reason for the significant increase. The Company
continues to engage with potential investors and it will make announcements
accordingly.

 

As previously announced, the Board is maintaining its current strategy and its
focus remains on raising the necessary capital to support Fiinu 2 Limited's
re-application for a UK banking licence with which to launch its  Plugin
Overdraft®. Given the steps taken to preserve existing funding, ahead of
making the re-application in order to ensure the required level of
technological and regulatory readiness for the business to re-initiate the
process, a hiring process will need to be undertaken by the Board. It is not
possible at this time to quantify the time period when this will happen.

 

ENDS

 

 Enquiries:

 Fiinu plc                                            via SPARK

 Dr. Marko Sjoblom

 www.fiinu.com (http://www.fiinu.com)

 SPARK Advisory Partners Limited (Nomad)              Tel: +44 (0) 203 368 3550

 Mark Brady / Adam Dawes

 SP Angel Corporate Finance LLP (Joint Broker)        Tel: +44 (0) 207 470 0470

 Bruce Fraser / Ezgi Senturk

 Panmure Gordon (UK) Limited (Joint Broker)           Tel: +44 (0)207 886 2500

 Stephen Jones / Atholl Tweedie (Corporate Finance)

 Hugh Rich (Corporate Broking)

 

About Fiinu

 

Fiinu, founded in 2017, is a fintech group, that developed the Plugin
Overdraft® which is an unbundled overdraft solution that allows customers to
have an overdraft without changing their existing bank. The underlying bank
Independent Plugin Overdraft® technology platform is bank agnostic, that
therefore enables it to serve all other banks' customers. 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 that it increases competition and
innovation in UK banking.

 

For more information, please visit www.fiinu.com (http://www.fiinu.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  RSPUKRARSSUARAR