Finseta plc (LON:FIN), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, has announced a retail offer via the BookBuild Platform of new ordinary shares of one penny each in the capital of the Company to raise gross proceeds of up to £0.1 million. Pursuant to the Retail Offer, up to 1,176,470 new Ordinary Shares will be made available at a price of 8.5 pence per Retail Offer Share.
In addition to the Retail Offer, and as announced by the Company earlier today, the Company is conducting a placing of new Ordinary Shares at the Issue Price to raise approximately £0.71 million (before expenses). The Company has conditionally raised a further £0.15 million (before expenses) by way of a Subscription, comprising the issue of 1,723,818 subscription shares at the Issue Price. The proceeds of the Retail Offer will be utilised in the same way as the proceeds of the Placing and Subscription, as set out in the separate announcement of the Placing and Subscription and its terms released by the Company at 7.00 a.m. on 14 April 2026 (the “Fundraising Announcement”).
For the avoidance of doubt, the Retail Offer is separate from, and does not form part of, the Placing and Subscription. Completion of the Placing and Subscription is not conditional on the completion of the Retail Offer but completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing and Subscription and the Fundraising Shares being admitted to trading on the AIM market operated by London Stock Exchange plc. The Retail Offer Shares are expected to be admitted to trading on AIM at 8.00 a.m. on or around 20 April 2026.
Expected timetable in relation to the Retail Offer
| 2026 | |
| Retail Offer opens | 07:05 on 14 April |
| Latest time and date for commitments under the Retail Offer | 16:30 on 16 April |
| Results of the Retail Offer announced | 07:00 on 17 April |
| Admission and commencement of dealings in the Retail Offer Shares on AIM | 08:00 on 20 April |
The dates and times set out in the above timetable are indicative only and may be subject to change. Any changes to the expected timetable set out above will be notified by the Company by announcement via a Regulatory Information Service (as defined in the AIM Rules for Companies published by the London Stock Exchange (as amended from time to time)). References to times are to London times.
Dealing codes
| Ticker | FIN |
| ISIN for the Ordinary Shares | GB00BNG7CD28 |
| SEDOL for the Ordinary Shares | BNG7CD2 |
Retail Offer
The Company values its retail shareholder base, which has supported the Company for many years. Given the support of retail shareholders, the Company believes that it is appropriate to provide its eligible shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the Intermediaries (defined below) which will be listed, subject to certain access restrictions, on the following website:
https://www.bookbuild.live/deals/L18ZKQ/authorised-intermediaries
Shore Capital Stockbrokers Limited will be acting as retail offer coordinator in relation to the Retail Offer.
Existing retail shareholders in the Company can contact their broker or wealth manager to participate in the Retail Offer. In order to participate in the Retail Offer, each Intermediary must be on-boarded onto the BookBuild Platform and agree to the final terms and the retail offer terms and conditions, which regulate, amongst other things, the conduct of the Retail Offer on market standard terms and provide for the payment of commission to any Intermediary that elects to receive a commission and/or fee (to the extent permitted by the FCA Handbook Rules) from the Retail Offer Coordinator (on behalf of the Company).
Any expenses incurred by any Intermediary are for its own account. Investors should confirm separately with any Intermediary whether there are any commissions, fees or expenses that will be applied by such Intermediary in connection with any application made through that Intermediary pursuant to the Retail Offer.
The Retail Offer will be open to eligible investors in the United Kingdom from 07.05 a.m. on 14 April 2026. The Retail Offer is expected to close at 4.30 p.m. on 16 April 2026. Investors should note that Intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.
If any Intermediary has any questions about how to participate in the Retail Offer on behalf of existing retail shareholders, please contact the BookBuild Platform at email: [email protected].
The Retail Offer, the subject of this announcement, is and will, at all times, only be made to, directed at, and may only be acted upon by, those persons who are, existing shareholders in the Company. To be eligible to participate in the Retail Offer, applicants must meet the following criteria before they can submit an order for Retail Offer Shares: (i) be a customer of one of the participating Intermediaries listed on the above website; (ii) be resident in the United Kingdom; and (iii) be a shareholder in the Company (which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations and includes persons who hold their shares in the Company directly or indirectly through a participating Intermediary). For the avoidance of doubt, persons who (a) only hold CFDs, spreadbets and/or similar derivative instruments in relation to shares in the Company, or (b) are not existing shareholders in the Company, are not eligible to participate in the Retail Offer.
The Company reserves the right to scale back any order at its discretion. The Company reserves the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for Retail Offer Shares has been made and accepted via an Intermediary, it cannot be withdrawn.
The Retail Offer Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after their date of issue.
The Retail Offer is offered in the United Kingdom under an exemption from the prohibition of public offers specified in Part 1 of Schedule 1 of the Public Offers and Admissions to Trading Regulations 2024 and under an exemption from the requirement to publish a prospectus in the Prospectus Rules: Admission to Trading on a Regulated Market sourcebook of the FCA.
The Retail Offer is not being made (i) into any jurisdiction other than the United Kingdom or (ii) to US Persons (as defined in Regulation S of the US Securities Act 1933, as amended).
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the Retail Offer, and investors’ commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the FCA’s Disclosure Guidance and Transparency Rules and MAR.
There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the Intermediaries which will be listed, subject to certain access restrictions, on the following website:
https://www.bookbuild.live/deals/L18ZKQ/authorised-intermediaries
Subject as stated above, there is no maximum application amount to apply in the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant Intermediaries including relevant commission or fee charges.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Retail Offer Shares and an investment in the Company carries a number of risks. Investors should take independent advice from a person experienced in advising on investment in securities such as the Retail Offer Shares if they are in any doubt.
An investment in the Company will place capital at risk. The value of investments, and any income, can go down as well as up, so investors could get back less than the amount invested.
Neither past performance nor any forecasts should be considered a reliable indicator of future results.
