(“Tintra”, the “Group” or the “Company”)
Establishment of the Tintra Foundation
PDMR Dealing & Holding in Company
Richard Shearer, the Group CEO, has informed the Company that Tintra Acquisitions Ltd (“TAL”), a company that he controls, has today gifted 297,022 ordinary shares of 1 pence each in the capital of the Company (“Ordinary Shares”) to the Tintra Foundation, a newly established Swiss foundation for the progression of the environmental, social and governance (“ESG”) objectives of Tintra, TAL and the wider Tintra organisation (the “Foundation”).
The beneficiary of the Foundation is the Tribes Project, formed by Johan Ernst Nilson with the support of Richard Shearer and many others (the “Project”). Mr Nilson (www.johanernst.com) is one of the world’s leading explorers and philanthropists having accomplished 52 expeditions in 172 countries he regularly raises millions of dollars a year for worthy causes across the world via his support for a range of charities and philanthropic causes.
Messrs Nilson and Shearer have been working together on the Project for almost a year. The Project, as the Company grows, will allow it to give back into the territories in which it is working through this initial endowment to the Foundation along with future contributions.
The Foundation will be run as an independent not-for-profit organisation and will employ a team separate from the Group. The intention of the Foundation is to document indigenous tribes, their cultures, knowledge and wisdom, from across the world as global capitalism starts to make their traditional lifestyles harder to maintain. Others have started to do this, but nowhere has it been done at a global level. It is the intention of the Foundation that it will create a single global receptacle of tribal knowledge that can be used for educational, medical and environmental benefit.
Mr Nilson will focus a lot of his considerable energy on the Project on behalf of the Foundation and will build and lead a team from his base in Monaco.
The Foundation is owned by a trust established under Guernsey law, whose sole beneficiary is the Project, with professional trustees based in Switzerland. Following the transfer, TAL holds 2,978,611 Ordinary Shares, equivalent to 22.28% of the currently issued Ordinary Shares, while the Foundation holds the equivalent of 2.22% of currently issued Ordinary Shares. On completion of the current founding round (see the announcement made earlier today), the Foundation would hold 2% of the Ordinary Shares as enlarged by the anticipated newly issued Ordinary Shares.
Richard Shearer, Tintra CEO, said, “Our day job at Tintra plc is focused on building revolutionary RegTech that opens borders for businesses to make payments across the emerging world and creating a level playing field for trade in these markets as they interface with more developed territories.
This is something that we are extremely passionate about. However, we are also very mindful of the fact that the desire to modernise by some is not shared by others and it is with that in mind that the Tintra Foundation will set out to document, support and nurture those indigenous tribes across the world for whom the relentless march of modernisation is not as welcome as it is for others.
This endowment, worth some $2m based on today’s earlier announcement, will give the Foundation a great start. I look forward to sharing more about this project that is very close to my heart personally over the coming months.“