Tintra PLC Update on Funding Round (1281I)
30 Novembre 2022 - 4:31PM
UK Regulatory
TIDMTNT
RNS Number : 1281I
Tintra PLC
30 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
30 November 2022
TINTRA PLC
("Tintra", the "Group" or the "Company")
Funding Round
The board of directors of Tintra (the "Board") is pleased to
provide an update on the Company's fundraising plans, previously
set out in the Company's most recent annual report as well as the
Company's business update, as announced on 8 November 2022.
The Board has presented to certain High Net Worth Investors and
Family Offices and received non-binding commitments for the raise
that are now in negotiations to finalise terms (although there can
be no guarantee that these will be successfully finalised).
Notwithstanding the Company previously expecting to complete the
funding round in November 2022, it is the Board view that progress
in respect of the fundraising is proceeding in a positive
manner.
It is the Board's intention to raise circa US$25m during the
current round (the "Funding Round"), with the first tranche of at
least US$10m expected to be closed during the first two weeks of
December 2022, and the balance before the end of the Company's
financial year (31 January 2023).
In line with previous announcements by the Company, it is the
Board's intention that the Funding Round will be priced so that the
US$25m of new shares to be issued to be the equivalent of 10% of
the enlarged ordinary share capital of the Company.
It is emphasised that the Funding Round is, amongst other
matters, subject to ongoing negotiation and therefore there can be
no certainty that the Funding Round will proceed in line with the
terms previously outlined by the Company.
Further announcements will be made at the appropriate time.
For further information, contact:
Tintra PLC
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com 020 3795 0421
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek
Bhardwaj 020 3328 5656
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END
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