FAIRFX Group PLC Exercise of Warrants & Issue of Equity (9520T)
March 26 2019 - 2:00AM
UK Regulatory
TIDMFFX
RNS Number : 9520T
FAIRFX Group PLC
26 March 2019
26 March 2019
FairFX Group plc
("FairFX" or "the Group" or "the Company")
Exercise of Warrants & Issue of Equity
FairFX, the e-banking and international payments group,
announces the exercise of warrants over 7,500,000 new ordinary
shares in the Company ("Warrants"), raising approximately GBP2.0
million (before expenses) for the Group. The funds raised from the
exercise of Warrants will support the Group's growth plans in 2019
and beyond.
The Warrants were issued to Crystal Amber Fund Limited ("Crystal
Amber") in conjunction with the Company's equity placing announced
in March 2016.
Pursuant to this exercise of Warrants, the Company has applied
for 7,500,000 new ordinary shares of 1p each to be admitted to
trading on AIM ("Admission"). It is expected that Admission will
take place at 8.00 a.m. on 27 March 2019. Following Admission, the
Company will have 162,868,259 ordinary shares of 1p each in issue
admitted to trading on AIM. This figure, 162,868,259, may be used
by Shareholders as the denominator for the calculation 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
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
For more information, please contact:
FairFX Group plc +44 (0) 20 7778
Ian Strafford-Taylor, CEO 9308
Cenkos Securities plc - Nominated Advisor
and Joint Broker
Max Hartley (Nomad)
Callum Davidson +44 (0) 20 7397
Nick Searle - Sales 8900
Canaccord Genuity Limited - Joint Broker
Bobbie Hilliam
David Tyrrell +44 (0) 20 7523
Alex Aylen - Sales 8150
Yellow Jersey
Charles Goodwin
Joe Burgess +44 (0) 7747 788
Annabel Atkins 221
About FairFX
FairFX is a leading challenger brand in banking and payments
that disintermediates the incumbent banks with a superior user
experience and low-cost operating model. This enables personal and
business customers to make easy, low-cost multi-currency payments
in a broad range of currencies and across a range of FX products
all via one integrated system. The FairFX platform facilitates
payments either direct to Bank Accounts or at 30 million merchants
and over 1 million ATM's in a
FairFX provides banking and payment services to both personal
and business customers through four channels: Currency Cards,
Physical Currency, International Payments and Bank Accounts. The
Currency Card and Physical Currency offerings facilitate multiple
overseas payments at points of sale and ATM's whereas the
International Payments channel supports wire transfer foreign
exchange transactions direct to Bank Accounts. For Corporates,
FairFX has a market-leading business-expenses solution based around
its corporate prepaid platform and card that can yield significant
savings on a Corporate's procurement through better controls and
improved transparency and also streamline the procurement process
thus saving administrative costs. Through the recent acquisition of
CardOne, FairFX now has the capability to offer retail and business
Bank Accounts with all the functionality you would expect from a
Bank, namely faster payments, BACs, direct debits, international
payments and a debit card.
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contact rns@lseg.com or visit www.rns.com.
END
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