Tintra PLC Commencement of Trading on OTCQB Venture Market (0224Q)

TIDMTNT

RNS Number : 0224Q

Tintra PLC

25 October 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

   25 October   2021 

TINTRA PLC

("TNT", the "Group" or the "Company")

Commencement of Trading on OTCQB Venture Market

As announced on 30 July 2021, the Company has been engaged with OTC Markets regarding a cross-trading facility on the OTCQB Venture Market in the United States (the "OTCQB"). The board of directors of the Company (the "Board") is pleased to announce that this process has now completed and the Company's ordinary shares of 1 pence each ("Ordinary Shares") will commence trading on the OTCQB before the end of this week with the ticker "TNTAF". A further announcement will be made prior to trading commencing.

The OTCQB is designed to allow developing international companies to be publicly traded in the United States. The Company believes that having its Ordinary Shares traded on the OTCQB is a cost-effective solution which will provide enhanced investor benefits, including easier trading access for investors located in the US, and greater liquidity due to a broader geographic pool of potential investors. A market maker will be appointed in the US to support the trading on the OTCQB.

The OTCQB is recognised as an "Established Public Market" by the U.S. Securities and Exchange Commission (the "SEC"). The OTCQB is a leading market for US and international companies in the entrepreneurial and development stage. Trading on the OTCQB will have no impact on the trading of Tintra's Ordinary Shares on AIM and no new Ordinary Shares will be issued as part of the cross-trading facility.

Tintra will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC reporting requirements.

Richard Shearer, Chief Executive of Tintra, said: "As described elsewhere, we are executing on our strategy to build a global banking infrastructure that provides banking services and unlocks value in emerging markets using artificial intelligence to solve the current compliance gap. This is another step on that road map.

Whilst the UK is becoming more and more evolved in the fintech arena, it remains that the US is the global driver in the space and more precisely, in AI. Further, many of our conversations with institutional investors have been in the US and we believe giving retail investors direct access to Tintra via OTCQB needs to be an integral part of our plan as we execute on our strategy.

We are building a truly global business and by giving investors in the US direct access to our stock we believe we may be able to access deeper liquidity and scale faster than in the UK alone and I personally hope that this illustrates our seriousness in succeeding in what we have set out to achieve.

For further information, contact:

 
 Tintra PLC 
  Richard Shearer, CEO 
  Website www.tintra.com                     020 3795 0421 
 
   Allenby Capital Limited 
   (Nomad, Financial Adviser & Broker) 
   John Depasquale / Nick Harriss / Vivek 
   Bhardwaj                                    020 3328 5656 
 

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGZMZGGFVGMZM

(END) Dow Jones Newswires

October 25, 2021 02:00 ET (06:00 GMT)