Result of General Meeting and Result of Placing and Open Offer

TruFin plc completes £10m fundraising

On 22 March 2022, the Company announced a proposed Placing to raise £8.0 million and Open Offer to raise up to a further approximately £2.0 million (both amounts before expenses) through the issue of, in aggregate, up to 13,360,739 New Ordinary Shares at an issue price of 75 pence per New Ordinary Share.

The Company is pleased to announce that at its General Meeting held earlier today, all of the Resolutions set out in the circular published on 24 March 2022 were duly passed. The votes received in respect of the resolutions were as follows:

Further to this, the Company can now confirm that it will issue, pursuant to the Placing and Open Offer, in aggregate, 13,360,739 New Ordinary Shares at 75 pence per New Ordinary Share, raising approximately £10.0 million. The issue of New Ordinary Shares will be split as follows:

• 10,666,666 New Ordinary Shares under the Placing, raising gross proceeds of £8.0 million; and
• 2,694,073 New Ordinary Shares taken up under the Open Offer, raising gross proceeds of approximately £2.0 million. Valid acceptances were received from Qualifying Shareholders in respect of 1,225,003 Open Offer Shares under their Basic Entitlements, and for 3,956,134 Open Offer Shares under the Excess Application Facility. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement. Applications for Open Offer Shares under the Excess Application Facility will be scaled back pro rata to the number of Excess Shares applied for by Qualifying Shareholders under the Excess Application Facility.

Application has been made for 13,360,739 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the New Ordinary Shares at 8.00 a.m. on 12 April 2022.

Following Admission, the total number of voting rights in the Company is 94,182,943. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement will have the meanings (unless the context otherwise requires) set out in the circular dated 24 March 2022, which is available here on the Company's website.