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Equals Group Plc

Statement re. press speculation

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RNS Number : 0367J
Equals Group PLC
14 August 2019
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.

14 August 2019

Equals Group Plc
("Equals" or the "Company")

Statement re. press speculation

The Company notes the recent press speculation and confirms that it is in the advanced stages of conducting a fundraising in the region of £14 million at a price of 110 pence per ordinary share in order to accelerate organic growth and to fund potential acquisitions. The Directors intend to offer an additional £2 million of any such fundraising to existing shareholders of the Company, on a pre-emptive basis, through an open offer on the same terms.

A further announcement on the potential fundraising will be made in due course.

 

For more information, please contact:

 

Equals Group plc        

Ian Strafford-Taylor, CEO

 

+44 (0) 20 7778 9308

Cenkos Securities plc - Nominated Advisor and Joint Broker

 

Max Hartley (Nomad)

Callum Davidson   

Nick Searle - Sales

 

+44 (0) 20 7397 8900

Canaccord Genuity Limited - Joint Broker

 

Bobbie Hilliam
David Tyrrell

Alex Aylen - Sales

 

+44 (0) 20 7523 8150

Yellow Jersey                         

 

Charles Goodwin

Joe Burgess

Annabel Atkins

 

 

 

+44 (0) 7747 788 221

+44 (0) 7796 325 254

+44 (0) 7983 557 851

 

 

About Equals

 

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model. Our business enables personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies and across a range of products all via one integrated system. The Equals platform facilitates payments either direct to Bank Accounts or at 35 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA debit cards.

 

Equals provides money movement services to both personal and business customers through four channels: Currency Cards, Physical Currency, International Payments and Bank Accounts. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the International Payments channel supports wire transfer foreign exchange transactions direct to Bank Accounts. For Corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card. This service can yield significant savings on a Corporate's expenses and procurement both domestically and overseas, through better controls and improved transparency. The platform also streamlines the downstream administrative processes and integrates into accounting software, thus saving costs. Equals offers retail and business bank accounts with all the functionality you would expect from a bank, namely faster payments, BACs, direct debits, international payments and a debit card.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Equals Group Plc

Price: £0.99

Market: AIM
Market Cap: £176.6 m
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