REG - Finseta PLC - Completion of Sale of Capital Currencies

FinsetaAnnouncement

05/06/2024 07:00

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RNS Number : 1250R  Finseta PLC  05 June 2024

05 June 2024

 

Finseta plc

("Finseta" or the "Company")

 

Completion of Sale of Capital Currencies

 

Further to the Company's announcement of 20 September 2023, Finseta plc (AIM:
FIN), a foreign exchange and payments solutions company offering
multi-currency accounts to businesses and individuals through its proprietary
technology platform, is pleased to announce the completion of the sale of 100%
of the share capital of Capital Currencies Ltd ("Capital Currencies"),
following the receipt of regulatory approval from the Financial Conduct
Authority. In accordance with the terms of the share purchase agreement, the
Company has now received £150,000 in cash in consideration for Capital
Currencies.

 

James Hickman, CEO of Finseta, said: "We are pleased to have completed this
transaction that allows us to realise value from the sale of a non-trading
subsidiary that holds a licence surplus to our requirements, and which is
being acquired by a non-competing business. The proceeds from the sale further
strengthen our cash position and our ability to capitalise on the excellent
momentum that we have been experiencing across the business."

 

 

For further information, please contact:

 

 Finseta                                                                                 +44 (0)203 971 4865
 plc

 James Hickman, Chief Executive Officer

 Judy Happe, Chief Financial Officer

 Shore Capital (Nominated Adviser and Broker)                                            +44 (0)207 408 4090

 Daniel Bush / Tom Knibbs (Corporate Advisory)

 Guy Wiehahn (Corporate Broking)

 Gracechurch Group (Financial PR)                                                        +44 (0)204 582 3500

 Harry Chathli / Claire Norbury

 

 

About Finseta plc

 

Finseta plc (AIM: FIN) is a foreign exchange and payments company offering
multi-currency accounts and payment solutions to businesses and individuals.
Headquartered in the City of London, Finseta combines a proprietary technology
platform with a high level of personalised service to support clients with
payments in over 150 countries in 58 currencies. With a track record of over
12 years, Finseta has the expertise, experience and expanding global partner
network to be able to execute complex cross-border payments. It is fully
regulated, through its wholly-owned subsidiaries, by the Financial Conduct
Authority as an Electronic Money Institution and by the Financial Transactions
and Reports Analysis Centre of Canada as a Money Services Business.
www.finseta.com
(https://url.avanan.click/v2/___http:/www.finsetaplc.com___.YXAxZTpzaG9yZWNhcDphOm86OTZlYTFlZjgyMTY4YjZmODg1ZTQ0MjkwYTRhMTY3MGU6NjoxYzUzOmZmZmIyZGI4YzJmYzk0NzMzMjRjYTRkNmY1NDNmNTRiYTk5NmUyNWYwMWM4ZmRjMWUwMjRmODY5OTQyOWU2YWM6cDpU)

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