(“Tintra”, the “Group” or the “Company”)
Further re. Strategic Investment Under Funding Round
Further to the Company’s announcement on 17 January 2022 regarding progress with the Funding Round announced on 10 January 2022, confirmation has been received from Cap-Meridian Ventures Ltd.’s UK clearing bankers that the payment of US$1 million payable to the Company in settlement of the subscription for 148,511 new ordinary shares of 1 pence each in the capital of the Company (the “Subscription Shares”) is in the final stages of being processed. Completion of the funds transfer had been expected by all parties on Friday, but this was not possible before close of business.
Due to the quantum of the payment, a final verbal security verification is needed in order to process the payment to the Company. Accordingly, while there can be no guarantee as to timings, the final element of the processing of the payment of US$1 million is now expected to be completed today, 24 January 2022. The Company will make a further announcement as and when this final process is completed, funds are credited to the Company and the Subscription Shares are to be issued.