(“TNT”, the “Group” or the “Company”)
Holding in Company & PCA Dealing
On the 8 December 2021 the Company announced that a finance package had been agreed with Tintra Acquisitions Limited (“TAL”) whereby it agreed to provide guarantees to certain legacy creditors of St Daniel House Ltd (“SDH”), the Group’s wholly owned payment processing subsidiary, so that those liabilities could be removed from the Group’s balance sheet.
As part of TAL’s preparations to meet its obligations under the financing package the Board have been informed by TAL that it has sold 160,000 ordinary shares of 1 pence each (“Ordinary Shares”) at an average price of 240.63p per Ordinary Share (the “Sale”).
Following the Sale, TAL holds 3,818,611 Ordinary Shares, equivalent to 26.31% of the current issued Ordinary Shares.
Richard Shearer, Group CEO, said “In December TAL voluntarily underwrote £1,311,023 of balance sheet exposure on behalf of SDH as a show of its, and indeed my, continued commitment to the building of a world changing artificial intelligence driven banking infrastructure. The Sale provides a portion of those funds, with the balance coming from the broader Tintra Group and as such TAL does not anticipate any further disposals in the near term.”