Repayment & Termination of Placement Facility

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 (Nomad, Financial Adviser & Broker) John Depasquale / Nick Harriss / Vivek Bhardwaj	020 3328 5656

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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