Statement on current situation in Russia

RNS Number : 9353D

ZAIM Credit Systems PLC

08 March 2022

 

Not for release or  distribution, directly or indirectly, within, into or in the United States or to or for the account or benefit of persons in the United States, Australia, Canada, Japan or any other jurisdiction where such offer or sale would violate the relevant securities laws of such jurisdiction

For Immediate Release

8 March 2022

Zaim Credit Systems Plc

("Zaim" or together with its subsidiary the "Group")
 

Statement on current situation in Russia

Zaim Credit Systems plc ("Zaim"), the Russia focused fintech group, announces a statement regarding the current situation in Russia and Ukraine in respect of its wholly owned subsidiary, Zaim-Express LLC, ("Zaim-Express"). Zaim-Express ' principal activity is the issuance of microloans online via its web-site and mobile application and through a network of its branches in Moscow and the Moscow Region.

As a UK-listed entity, Zaim is currently complying with all UK, US & EU sanctions and will monitor the situation to ensure it continues to do so should they change in what is a rapidly evolving situation. It is important to note that:-

· Zaim is a holding company incorporated in England and Wales

· Zaim is majority owned by European shareholders - a list of those holding more than 3% of the Company's shares is available on the company website

· Zaim itself has no relationships with any Russian banks

· Zaim is accelerating its work to expand into other European countries and is actively undertaking an assessment of jurisdictions in which to deploy its technology 

· The business of Zaim Express operates solely within Russia and therefore is not affected by international restrictions on using the SWIFT international payment system.

Zaim Express and its systems are working as normal and it continues to serve its clients in the normal course of business with as yet no significant deviation in business performance. Zaim will provide a trading update in respect of Q4 2021 in due course.

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Enquiries:

Zaim Credit Systems Plc
Simon Retter Siro Cicconi	Tel: [phone]
Alex Boreyko	Tel: [phone] [e-mail]
Investor Relations: Flowcomms Ltd
Sasha Sethi	Tel: [phone] [e-mail]
Adviser: Beaumont Cornish Limited
Roland Cornish / James Biddle	Tel: [phone]
Optiva Securities Limited
Jeremy King / Vishal Balasingham	Tel: [phone]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.   

 

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