Fiinu PLC Response to Share Price Movement (1132Z)

TIDMBANK

RNS Number : 1132Z

Fiinu PLC

09 January 2024

9 January 2024

Fiinu Plc

("Fiinu", the "Company" or the "Group")

Response to Share Price Movement

Fiinu, a fintech group, creator of the Plugin Overdraft(R), notes the movement in its share price today and confirms that it is not aware of any material commercial or operational reason for the significant increase. The Company continues to engage with potential investors and it will make announcements accordingly.

As previously announced, the Board is maintaining its current strategy and its focus remains on raising the necessary capital to support Fiinu 2 Limited's re-application for a UK banking licence with which to launch its Plugin Overdraft(R). Given the steps taken to preserve existing funding, ahead of making the re-application in order to ensure the required level of technological and regulatory readiness for the business to re-initiate the process, a hiring process will need to be undertaken by the Board. It is not possible at this time to quantify the time period when this will happen.

ENDS

 
 Enquiries: 
 Fiinu plc                                    via SPARK 
  Dr. Marko Sjoblom 
  www.fiinu.com 
 SPARK Advisory Partners Limited (Nomad)      Tel: +44 (0) 203 368 3550 
  Mark Brady / Adam Dawes 
 SP Angel Corporate Finance LLP (Joint        Tel: +44 (0) 207 470 0470 
  Broker) 
  Bruce Fraser / Ezgi Senturk 
 Panmure Gordon (UK) Limited (Joint           Tel: +44 (0)207 886 2500 
  Broker) 
  Stephen Jones / Atholl Tweedie (Corporate 
  Finance) 
  Hugh Rich (Corporate Broking)

About Fiinu

Fiinu, founded in 2017, is a fintech group, that developed the Plugin Overdraft(R) which is an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank. The underlying bank Independent Plugin Overdraft(R) technology platform is bank agnostic, that therefore enables it to serve all other banks' customers. Open Banking allows Fiinu's Plugin Overdraft(R) to attach ("plugin") to the customer's existing primary bank account, no matter which bank they may use. Fiinu's vision is built around Open Banking, and it believes that it increases competition and innovation in UK banking.

For more information, please visit www.fiinu.com

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END

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January 09, 2024 06:06 ET (11:06 GMT)

Fiinu (LSE:BANK)
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