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Fiinu PLC - Weybridge, England-based financial technology firm - Receives 100% shareholder approval at a general meeting for its reverse takeover of Everfex PSA, the provider of currency hedging solutions to small and medium-sized businesses exposed to Polish Zloty fluctuations against all major currencies.
Fiinu agreed the terms of the takeover at the beginning of August, for a total consideration of up to £12.0 million. Of this, £8.0 million is to be satisfied through the issue of 80 million shares to Granicus Holdings OU, the sole owner of Everfex, at 10 pence per share. Additional consideration of £4.0 million may be payable after January 1, 2026, dependent on Everfex meeting certain performance criteria. This further consideration would be satisfied via the issue of 20 million new shares at 20p each.
Current stock price: 14.97 pence, closed up 17% in London on Tuesday
12-month change: up from 0.88p
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