Business
Playstack enters into LoI for sale of Interact
Playstack enters into LoI for sale of Interact.
About this update from Trufin Plc
[{"type":"text","content":"\n\n21 November 2023\n\nRNS\n \nTruFin plc\n(\"TruFin\" or the \"Company\")\n \nPlaystack Limited (\"Playstack\") enters into Letter of Intent for sale of Interact platform\n \nTruFin is pleased to announce that its subsidiary Playstack, the leading UK games publisher, has entered into a Letter of Intent to sell IP and assets (the \"Disposal Assets\") of its augmented reality and gamification AdTech platform \"Interact\" to VCI Global Limited (\"VCIG\") (the \"Disposal\"). \n \nNasdaq-listed VCIG is a leading multi-disciplinary consulting group with key business and technology advisory practices, headquartered in Malaysia.\n \nThere can be no certainty as to the completion of the Disposal and whilst transaction terms are to be confirmed, any cash consideration is not expected to be significant in the context of the wider Company. TruFin will provide further updates as appropriate. The Disposal Assets are held at zero value on the Company's balance sheet.\n \nAs previously announced, Playstack is now focused on its technology-led games publishing business. This proposed transaction will give Playstack additional resources to support its burgeoning publishing pipeline, while allowing Interact to flourish within VCIG's synergistic environment.\n\n\nFor further information, please contact:\n \n\n\n\n\nTruFin plc James van den Bergh, Chief Executive Officer\nKam Bansil, Investor Relations\n\n\n\n 0203 7431340\n 07779 229508\n\n\n\n\nLiberum Capital Limited (Nominated Adviser and Corporate broker)\nChris Clarke\nEdward Thomas\n\n\n0203 100 2000\n\n\n\n\nTruFin plc is the holding company of an operating group comprising three growth-focused technology businesses operating in niche markets: early payment provision, invoice finance and mobile games publishing. The Company was admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More information is available on the Company website: www.TruFin.com.\n\n","length":3739,"tagName":"div"}]