Business
Completion of Sale of Capital Currencies
Completion of Sale of Capital Currencies.
About this update from Finseta Plc
[{"type":"text","content":"\n\n05 June 2024\n \nFinseta plc\n(\"Finseta\" or the \"Company\")\n \nCompletion of Sale of Capital Currencies\n \nFurther to the Company's announcement of 20 September 2023, Finseta plc (AIM: FIN), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, is pleased to announce the completion of the sale of 100% of the share capital of Capital Currencies Ltd (\"Capital Currencies\"), following the receipt of regulatory approval from the Financial Conduct Authority. In accordance with the terms of the share purchase agreement, the Company has now received £150,000 in cash in consideration for Capital Currencies.\n \nJames Hickman, CEO of Finseta, said: \"We are pleased to have completed this transaction that allows us to realise value from the sale of a non-trading subsidiary that holds a licence surplus to our requirements, and which is being acquired by a non-competing business. The proceeds from the sale further strengthen our cash position and our ability to capitalise on the excellent momentum that we have been experiencing across the business.\"\n \n \nFor further information, please contact:\n \n\n\n\n\nFinseta plc \nJames Hickman, Chief Executive Officer\nJudy Happe, Chief Financial Officer\n \n\n\n+44 (0)203 971 4865\n \n\n\n\n\nShore Capital (Nominated Adviser and Broker) \nDaniel Bush / Tom Knibbs (Corporate Advisory)\nGuy Wiehahn (Corporate Broking)\n \n\n\n+44 (0)207 408 4090\n\n\n\n\nGracechurch Group (Financial PR)\nHarry Chathli / Claire Norbury\n\n\n+44 (0)204 582 3500\n\n\n\n\n \n \nAbout Finseta plc\n \nFinseta plc (AIM: FIN) is a foreign exchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals. Headquartered in the City of London, Finseta combines a proprietary technology platform with a high level of personalised service to support clients with payments i...