ADVFN PLC Corporate update (1630M)

TIDMAFN

RNS Number : 1630M

ADVFN PLC

10 January 2023

For immediate release

10 January 2023

ADVFN plc

("ADVFN" or the "Company")

Corporate update

The Board of ADVFN is pleased to announce that it has been informed that the Financial Conduct Authority ("FCA") has now decided to approve Amit Tauman, together with his father Yair Tauman, holding up to 29.9 per cent. of the Company's issued share capital (the "FCA Approval").

As announced on 6 January 2023, Amit Tauman and Yair Tauman's applications for Open Offer Shares were scaled back pending FCA Approval with the issue of the balance of 1,057,576 Open Offer Shares subscribed by each of Amit Tauman and Yair Tauman respectively conditional upon the receipt of the FCA Approval. Accordingly, as FCA Approval has now been received, these outstanding Offer Shares can now be issued to Amit Tauman and Yair Tauman pursuant to their applications under the Open Offer.

As previously announced the Company is also in discussions with new investors who indicated an interest in subscribing at the issue price of 33p per Open Offer Share for the balance of Open Offer Shares which were not subscribed for under the Open Offer and a further announcement will be made in due course.

All capitalised/defined terms used in this announcement and not otherwise defined shall have the meanings given to them in the Circular issued on 6 December 2022.

A copy of this announcement is available on the Company's website, www.advfnplc.com.

For further information please contact:

 
           ADVFN plc 
            Amit Tauman (CEO)                               [phone] 
           Beaumont Cornish Limited (Nominated 
            Adviser) 
            Michael Cornish 
            Roland Cornish                                  [phone] 
           Peterhouse Capital Limited 
            (Broker) 
            Eran Zucker / Lucy Williams 
            / Rose Greensmith                               [phone] 
 

ENDS

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January 10, 2023 02:00 ET (07:00 GMT)