Result of GM and Result of Placing and Open Offer

10 July 2023

TruFin plc

("TruFin" or the "Company")

Result of General Meeting and

Result of Placing and Open Offer

TruFin plc completes fundraising

On 22 June 2023, the Company announced a proposed Placing to raise £7.0 million and Open Offer to raise up to a further approximately £1.0 million (both amounts before expenses) through the issue of, in aggregate, up to 12,313,212 New Ordinary Shares at an issue price of 65 pence per New Ordinary Share.

The Company is pleased to announce that at its General Meeting held earlier today, all of the Resolutions set out in the circular published on 23 June 2023 were duly passed. 

Further to this, the Company can now confirm that it will issue, pursuant to the Placing and Open Offer, in aggregate, 11,653,744 New Ordinary Shares at 65 pence per New Ordinary Share, raising approximately £7.6 million. The issue of New Ordinary Shares will be split as follows:

·    10,769,230 New Ordinary Shares under the Placing, raising gross proceeds of £7.0 million; and

·    884,514 New Ordinary Shares taken up under the Open Offer, raising gross proceeds of approximately £0.6 million. Valid acceptances were received from Qualifying Shareholders in respect of 649,820 Open Offer Shares under their Basic Entitlements, and for 234,694 Open Offer Shares under the Excess Application Facility. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement. Applications for Open Offer Shares under the Excess Application Facility will be received in full.

Application has been made for 11,653,744 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the New Ordinary Shares at 8.00 a.m. on 11 July 2023.

Following Admission, the total number of voting rights in the Company will be 105,836,687. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement have the meanings (unless the context otherwise requires) set out in the circular dated 23 June 2023, which is available on the Company's website (www.TruFin.com).

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About TruFin

TruFin plc is the holding company for an operating group of companies that are niche lenders and early payment providers. TruFin Group combines the benefits of both the traditional relationship banking model and developments in the fintech sector. 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.