Business
Admission to AIM and First Day of Dealings
Admission to AIM and First Day of Dealings.
About this update from Finseta Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4113U\n Cornerstone FS PLC\n 06 April 2021\n \n \n \n \n NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION (EACH A \"RESTRICTED JURISDICTION\").\n \n \n 6 April\n 2021\n \n \n \n \n \n CORNERSTONE FS PLC\n \n \n (\"Cornerstone\" or the \"Company\")\n \n \n ADMISSION TO AIM AND FIRst day of dealings\n \n \n Cornerstone FS plc, the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces that admission of its entire issued and to be issued share capital to trading on the AIM market of the London Stock Exchange (\"Admission\") will become effective and dealings will commence at 8.00 a.m. today under the ticker \"CSFS\". The Company's ISIN is \n GB00BNG7CD28 and its SEDOL is BNG7CD2\n .\n \n \n \n \n \n \n Cornerstone has successfully placed 3,664,648 new ordinary shares (\"Placing\") at a price of 61 pence per ordinary share. The Company has raised gross proceeds of £2.69 million comprising £2.24 million via the Placing and £450,000 via Convertible Loan Note Facilities. The shares sold under the Placing represent approximately 18 per cent of the Company's issued share capital. On Admission, the market capitalisation of the Company will be approximately £12.4 million.\n \n \n \n \n \n Cornerstone's Business\n \n \n Cornerstone's strategy is to build a significant business in the provision of payment services, foreign exchange and currency risk management. The Company makes it easy for SMEs to handle international payments and currency. \n The Company's primary customer base is small and medium sized enterprises: generally businesses with fewer than 250 employees. It also provides services for some HNWIs, some of whom are owners or directors of SME customers. The Company currently has over 740 clients.\n \n \n \n \n \n Cornerstone has developed and built, in-house, its own proprietary cloud-based software platform. The platform can be fully customised to allow third parties and marketing partners to integrate it into their own businesses and websites...