Fintech Asia Limited Additional Convertible Loan Facility
2024年12月4日 - 5:15PM
RNS Regulatory News
RNS Number : 7572O
Fintech Asia Limited
04 December 2024
4 December 2024
FINTECH ASIA LIMITED
("Fintech Asia" or the
"Company")
Additional Convertible Loan
Facility
Fintech Asia, (LON:FINA) a company established
to acquire one or more companies or businesses in the financial
technology sector, focused on improving the delivery and use of
financial services in Asia, announces that the Company has obtained
a further unsecured committed facility of up to £2 million via a
convertible loan note instrument dated
4 December 2024 between the Company and IVC
Estonia OÜ (the "Noteholder") (the "Series D Convertible
Loan").
The Series D Convertible Loan is intended to
bridge the Company's general working capital requirements, to the
extent required, in respect of its proposed acquisition of the
entire issued share capital of InvesCore Financial Group Pte. Ltd.
("InvesCore") (the "Proposed Acquisition") and the simultaneous
re-admission of its enlarged share capital to the equity shares
(transition) category of the Official List maintained by the
Financial Conduct Authority ("FCA") and readmitted to trading on
the Main Market of the London Stock Exchange ("Re-Admission") (the
"Transaction"), as announced on 14 March 2023. The Noteholder is
100 per cent. owned by an existing shareholder of
InvesCore.
As previously announced, should the Proposed
Acquisition proceed on the currently envisaged terms, it would be
classified as a reverse takeover in accordance with the FCA's
Listing Rules. Accordingly, the Company's listing on the equity
shares (transition) category of the Official List remains suspended
from trading on the Main Market of the London Stock Exchange
pending the publication of a prospectus and the successful
Re-Admission of the enlarged group.
The Company will make further announcements in
due course, as appropriate.
Overview of
the Series D Convertible Loan:
·
|
The Series D Convertible Loan will be made
available on the following terms:
|
|
(a) an initial tranche of £1,500,000 to be
issued on or around 15 December 2024; and
|
|
(b) an additional tranche of £500,000 to be
issued on or around 6 January 2025.
|
·
|
A fixed interest rate amount of 10 per cent.
per annum shall accrue on the principle outstanding amount of the
Series D Convertible Loan on a daily basis, until repayment or
conversion of the relevant notes.
|
·
|
The Series D Convertible Loan will be repayable
on or before 31 December 2025 ("Repayment Date").
|
·
|
The Company shall have the right at any time
and without penalty to repay all or any part of the principal
amount of the Series D Convertible Loan and interest accrued and
unpaid thereon.
|
·
|
At the time of repayment, the Noteholder has
the option to convert the Series D Convertible Loan into new
Ordinary Shares at 64 pence per share or determine that repayment
shall be made in cash, but the Series D Convertible Loan does not
automatically convert.
|
The Series D Convertible Loan is subject to all
necessary approvals required under the Takeover Code and the
Company's articles of association. The Series D Convertible Loan is
also subject to customary events of default under which any
principal monies outstanding under the instrument and all accrued
and unpaid interest shall become immediately repayable.
The
information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU No. 596/2014) which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
For further
information please contact:
Fintech Asia Limited
|
Via IFC
|
Oliver Fox, CEO
|
Strand Hanson Limited (Financial Advisor)
Rory Murphy / Abigail
Wennington
|
+44 (0) 207 409 3494
|
Novum Securities (Broker)
Colin Rowbury
|
+44 (0) 207 399 9400
|
IFC
Advisory Limited (Financial PR and IR)
|
+44 (0) 203 934 6630
|
Tim Metcalfe
Zach Cohen
|
LEI: 213800C7BC4EZQAEBT76
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 or visit
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.
END
IODGIBDDGBGDGSS
Fintech Asia (LSE:FINA)
過去 株価チャート
から 1 2025 まで 2 2025
Fintech Asia (LSE:FINA)
過去 株価チャート
から 2 2024 まで 2 2025