Tintra PLC Press Release on OTCQB Venture Market Admission
October 29 2021 - 8:30AM
RNS Non-Regulatory
TIDMTNT
Tintra PLC
29 October 2021
Press Information
For Immediate Release
29(th) October 2021
TINTRA PLC
("Tintra" or the "Group" or the "Company")
OTCQB
As part of its broader strategy, fast moving fintech company
Tintra PLC has this week commenced trading on the OTCQB Venture
Market, the mid-tier OTC equity market. Based in New York the
market lists primarily early-stage and developing companies both
from the US and internationally.
This is the latest step in Tintra's strategy to build an
emerging market banking gateway lead by artificial intelligence
driven compliance.
With a management team that has deep knowledge in providing
services between emerging and developed markets, Tintra is using
this to innovate a technology that allows emerging and developed
markets to interface in a seamless way, establishing compliance
without friction, the Company thinks of this as the building of not
just a tech interface but by being in many ways a cultural API as
well.
The Company's macro strategy is to innovate to be a regulation
driven financial technology company that provides direct access,
via licences in the UK supported by full bank licences in strategic
geographies in Qatar and Puerto Rico in the first instance, with
more to follow.
This will all be driven by cutting edge artificial intelligence,
demonstrated by the recent announcement of a joint venture with
specialised AI and research Time Machine Capital, which
subsequently saw Tintra's share price jump, cementing its position
as an attractive, high growth international company.
Tintra's latest move will connect it to the deep liquidity that
only the US can provide. This will enhance both share liquidity and
capital raise potential.
OTCQB is the leading market for US and international companies
in the development stage, trading on the OTCQB will have no impact
on the trading of Tintra's Ordinary Shares listed on AIM and no new
Ordinary Shares will be issued as part of this new cross-trading
facility.
Richard Shearer, Chief Executive of Tintra, recently
commented:
"We came at this venture having a wealth of knowledge and
understanding of where the gaps between developed and emerging
world banking was and thought that we knew exactly what needed to
be done. Over the past 6 months with input from some of the best
minds in the fintech sector we have expanded our thinking to a
point where we have built a model that is somewhat revolutionary. I
have been developing my own thinking, and in turn, that of the
team, a lot in the past few months to the point where we feel that
the real way to solve the biggest need in the space is to use
technology to solve compliance issues, not using technology purely
to enhance the interface between customer and bank. It is with that
core tenet we are building out our platform.
Our deal with Finsensr, more importantly part of the Time
Machine Capital family, which has built the artificial intelligence
driver for a major US platform now raising funds at a GBP4Bn
valuation, is a huge step, which may not be immediately evident to
shareholders, but one that I believe will become more so over the
coming months.
We are building this business with a very US, very tech-like
philosophy; we are driven first and foremost by solving a deep need
with a business that is scalable quickly once the building blocks
are in place by using technology that perhaps will be patentable
based on our very early discussions, but time will tell on that
point.
We have made substantial steps with our banking licence in the
Qatar Financial Centre, a bank licence that gives us direct fully
regulated access to Africa and MENA and are now moving along very
well with a pre-application in Puerto Rico for an IFE banking
licence, which will give us direct access to the New York Federal
Reserve and act as the pivot between LATAM and the US/EU.
This is a major game changing plan that is not going to happen
overnight, a funding round is being explored to expedite this as
earlier discussed and we are talking to many of the big-name
players in the fintech space along with a number of significant
family offices. You have already seen some early positioning in
this regard.
Our vision is big, we are the right team to execute on it and if
we get it right the rewards will see a meaningful change in the way
banking between developed and emerging markets takes place.
I look forward to sharing the journey with shareholders new and
old."
ENDS
For further information, contact:
TINTRA PLC +44 20 3795 0421
Richard Shearer, CEO
Website www.tintra.com
Allenby Capital Limited +44 20 3328 5656
(Nominated Adviser, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek Bhardwaj
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. 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.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
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
NRADZMZGGLLGMZM
(END) Dow Jones Newswires
October 29, 2021 09:30 ET (13:30 GMT)
St James House (LSE:SJH)
Historical Stock Chart
From Nov 2024 to Dec 2024
St James House (LSE:SJH)
Historical Stock Chart
From Dec 2023 to Dec 2024