The Company today announces it is proposing to raise up to approximately £10 million, before expenses, by way of a Placing to raise £8.0 million (the “Placing”) and an Open Offer to raise up to approximately £2.0 million (the “Open Offer”, together with the Placing, the "Share Issue") at a price of 75 pence per share (the “Issue Price”).
Satago Financial Solutions Limited ("Satago") announces that its platform has been selected by Lloyds Bank plc ("Lloyds Bank" or the "Bank") as the platform of choice to support the provision of invoice factoring solutions to Lloyds Bank customers. In addition, Lloyds Banking Group (“LBG”) will make a strategic investment of £5m in Satago.
The Company is pleased to announce the appointment of Mr Anders Wilhelmsen as a Non-Executive Director with immediate effect. Mr Wilhelmsen is appointed as a representative of Watrium AS (“Watrium”), pursuant to a Relationship Agreement which has been entered into between the Company and Watrium.
The Company announces that Satago Financial Solutions Limited ("Satago") has broadened its relationship with Lloyds Bank plc ("Lloyds Bank" or the "Bank") and extended its commercial pilot.
NEW IN-GAME AD MODEL 'INTERACT' ENSURES ADVERTISERS ARE NOW PART OF THE PLAY
Following the recent sale by Arrowgrass Master Fund Limited (“Arrowgrass”) of its entire stake in the Company, TruFin announces that Stephen Greene, Non-Executive Director of the Company and representative of Arrowgrass, will step down from the Board with effect from 31 October 2021.
Today, Arrowgrass Master Fund Limited successfully sold 16,156,358 ordinary shares in the Company at a price of 55 pence per share, representing approximately 19.99% of the Company's issued share capital. The Placing was oversubscribed and received high levels of support from new and existing blue-chip institutional investors.
INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2021 (UNAUDITED)
TruFin is pleased to announce a six-month extension to Satago's commercial pilot with Lloyds Bank to enable pilot testing to be concluded. It is anticipated that the trial will conclude during the six-month extension period and, if successful, will lead to a five-year commercial agreement with Lloyds Bank.
TruFin is pleased to announce that its fourth Annual General Meeting (“AGM”) was held today.