TIDMFINA
RNS Number : 5163Z
Fintech Asia Limited
15 September 2022
15 September 2022
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN OR TO THE UNITED STATES, CANADA, AUSTRALIA, THE
REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE
IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO
ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR
PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.
This announcement is an advertisement for the purposes of the
Prospectus Rules of the UK Financial Conduct Authority ("FCA") and
not a prospectus and not an offer to sell, or a solicitation of an
offer to subscribe for or to acquire securities. Neither this
announcement nor anything contained herein shall form the basis of,
or be relied upon in connection with, any offer or commitment
whatsoever in any jurisdiction. Investors should not purchase or
subscribe for any transferable securities referred to in this
announcement except on the basis of information contained in the
prospectus (the "Prospectus") in its final form published by
Fintech Asia Limited in connection with the proposed admission of
its ordinary shares to the standard listing segment of the Official
List maintained by the FCA (the "Official List") and to trading on
the London Stock Exchange plc's (the "London Stock Exchange") main
market for listed securities (the "Main Market").
FINTECH ASIA LIMITED
(" Fintech Asia " or the " Company ")
Admission to trading on the London Stock Exchange
Fintech Asia, (LON:FINA) an investment company established to
acquire businesses focused on improving the delivery and use of
financial services in Asia, is pleased to announce that at 8:00
a.m. today its entire issued ordinary share capital will be
admitted to the Standard Listing segment of the Official List of
the Financial Conduct Authority and to trading on the Main Market
for listed securities of the London Stock Exchange (the
"Admission") under the ticker "FINA" and ISIN GG00BPGZTM87 .
In connection with the Admission, the Company has successfully
raised GBP1,455,000 through the placing of 3,010,000 ordinary
shares of no par value at GBP0.50 per ordinary share ("Ordinary
Shares").
Background
Fintech Asia was incorporated on 28 May 2021 to undertake the
acquisition of one or more companies or businesses in the Fintech
sector, that offer new technologies that seek to improve and
automate the delivery and use of financial services, primarily
targeting the Asia-Pacific region.
Fintech describes the ecosystem of companies that apply
technological innovation such as data and analytics, software,
artificial intelligence or mobile technology to disrupt and/or
improve the financial services industry. These companies can be
existing financial or technology firms developing in this area, or
companies specifically created to focus on financial
technologies.
Acquisition Strategy
The Company's board, detailed in the appendix below, through
their established global network of contacts, have identified a
number of potentially promising acquisitions. The Company does not
currently have any specific initial acquisition under
consideration.
The Company will seek to create an attractive income-generating
business and increase shareholder value through the operation of
the acquired business or businesses.
The board will be focussed on the identification and acquisition
of companies which have one or more of the following
characteristics:
-- a strong Fintech related product, technology or service;
-- an experienced management team that has a proven track
record;
-- growth potential beyond its home market, ideally with
the potential to expand globally;
-- a solid reputation with their customers / clients; and
-- shareholders who are willing to accept Ordinary Shares
or other securities in the Company as a significant part
of the consideration for their businesses.
The directors will also consider investing into start-ups if
some of the above criteria are met, particularly if the management
team is experienced and has a strong network.
Oliver Fox, CEO of Fintech Asia, said: "The commencement of
trading on the London Stock Exchange is an important milestone for
the Company and I would like to thank our shareholders for their
support. We plan to use Fintech Asia as a vehicle to acquire one or
more exciting businesses in these areas in order to generate
attractive returns for our shareholders."
Total Voting Rights
Following Admission total number of Ordinary Shares with voting
rights in the Company is 19,760,000. The Company does not hold any
shares in treasury and all of the Ordinary Shares have equal voting
rights. This figure may be used by shareholders as the denominator
for the calculations by which they determine if they are required
to notify their interest in, or a change of their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
Prospectus
The Company's Prospectus was published on 12 September 2022 and
is available to view on the Company's website at:
https://fintechasialtd.com/reports-documents/
For further information please contact:
Fintech Asia Limited Via IFC
Oliver Fox (CEO)
Strand Hanson Limited (Financial Advisor)
Rory Murphy / Abigail Wennington +44 (0) 207 409 3494
Novum Securities (Broker)
J on Bellis +44 (0) 207 399 9400
IFC Advisory Limited (Financial PR and
IR) +44 (0) 203 934 6630
Tim Metcalfe
Zach Cohen
Appendix
The Company's board of directors on Admission will comprise:
Oliver Stuart Fox (42) - Chief Executive Officer
Oliver has 20 years of experience as an accountant, financial
strategy partner and most recently regional business development
lead in the financial services sector covering banking, financial
technology, financial information and stock exchanges. Originally
from the UK, he has been based in Singapore since 2020 where most
recently he was the Head of Business Development for London Stock
Exchange Primary Markets business in South-East Asia and
Australasia.
Earlier in his career he spent nearly ten years with the Royal
Bank of Scotland in financial partnering roles before joining
London Clearing House (LCH) in 2012 to lead on medium term
financial planning and work on their majority acquisition by London
Stock Exchange Group (LSEG). Following this he joined innovative
financial technology and information company Markit, supporting
them through their public listing on Nasdaq and merger with IHS
before re-joining LSEG in 2016 to focus on capital markets. His
most recent role has been to represent LSEG in South-East Asia and
Australasia to identify and evaluate IPO candidates focussing on
the fintech and wider technology fields.
He has significant experience over the last 10 years of advising
executive committee members on financial strategy and performance,
new business case development and evaluation of potential fintech
acquisitions. He also has extensive knowledge of the evolving
fintech sector and its applicability to Asian growth markets and
has been a regular contributor at events for earlier stage fintech
companies in the region.
Oliver holds an MBA with distinction from the University of
Strathclyde (2016) as well as an honours law degree (2001) and has
been an associate member of the Chartered Institute of Management
Accountants (CIMA) since 2008.
Robert George Shepherd (55) - Non-Executive Director
Robert has been a lawyer for 30 years in London and Guernsey.
Trained at Clifford Chance, he was admitted as a Solicitor of the
Supreme Court of England and Wales in 1993. He moved to Mourant
Ozannes (then Ozannes) in 1999 and was made a Partner at Mourant
Ozannes from 2003 to 2020 during which time he served as Managing
Partner for 10 years and Senior Partner for the last 6 years.
Robert has extensive legal experience in a full range of
corporate and commercial disputes, including financial services,
private client, trust, banking and other regulatory matters
including investigations and prosecutions. Both in London and
Guernsey he has assisted businesses at the frontiers of innovative
financial services products to navigate relevant regulatory and
contractual obstacles.
Robert is now a licensed fiduciary with a portfolio of
trusteeships and other appointments with a focus on advising UHNW
families and on good governance and regulatory compliance. He is
also Executive Chairman of the Guernsey Cheshire Home which
involves a large degree of engagement with the public sector as
well as dealing with all the staff and operational issues that
arise from running a large care home.
Robert graduated from King's College London (LLB) and the
University of Paris (Panthéon-Sorbonne) with a Maîtrise and also an
LLM in International and Environmental Law from the University of
London. He speaks fluent French.
Nicola Jane Walker (58) - Non-Executive Director
Nicola has an extensive background as a non-executive director
over the last 20 years. This includes experience in investment
management with significant AUM ranging from life sciences to
property. Nicola also has established and grown two fund and
fiduciary businesses in Guernsey since 2003, both involving
international business development and transactionally active
structures.
Nicola established Schroders Private Equity Services in Guernsey
in 2003, having been asked to relocate from Schroders Bermuda to
raise the Group's profile in the Eurozone. Upon acquisition by
JPMorgan she became Managing Director of JP Morgan Private Equity
Services. From 2010 she created a successful business which was
sold in 2020. Since her exit she has built a small portfolio of
independent non-executive directorships in the private equity and
alternative assets space. During her tenure in administration she
has collaborated with various fintech platform providers to ensure
her businesses took advantage of the most relevant and forward
thinking tech systems enabling efficiency for external reporting
and investors alike. These solutions ranged from electronic board
packs to databases and client due diligence depositories.
Nicola is a member of the Institute of Directors in Guernsey and
was a member of the committee of administrators of the Guernsey
Investment Funds Association from 2018 to 2020. She currently sits
on the Busines Beats Cancer committee in Guernsey, affiliated with
Cancer Research UK.
Nicola graduated from Nottingham Trent University and is a
Fellow of the Institute of Chartered Governance. She lived in
France and Germany during her university studies and speaks both
French and German.
Andrew Roberto Mankiewicz OBE (52) - Advisor
Andrew has over 20 years of experience in Japan and over 10
years of experience in Singapore in management consulting, capital
markets, mergers and acquisitions and venture-building. Andrew
started his career as a Management Consultant for Deloitte
Consulting Group with a focus on Japan & Europe. He was part of
the EU Gateway to Japan Programme advisory team on behalf of the
European Commission, assisting major blue-chip companies and small
medium enterprises to enter the Japanese market as well as advising
Japanese companies on entering and investing in the UK.
Thereafter, Andrew founded his own consultancy focused on
advisory services to UK & European companies entering the
Japanese market. Sectors included financial services, information
technology, healthcare, data intelligence providers, property,
retail, food & beverage, education, sports and luxury
products.
Andrew was one of only a few foreigners in Japan to be elected
as chief executive officer and board member of three Japanese
listed companies, which he successfully restructured and managed
adding considerable shareholder value. Andrew was also the chief
executive officer of a wealth management related company listed on
Aquis Exchange in London.
From 2007 to 2010, Andrew was elected the President of the
British Chamber of Commerce for three terms and represented the
United Kingdom on the Board of Governors of the European Business
Council in Japan. Andrew also represented UK interests as a member
of numerous business committees in Japan which included
multinational companies, think tanks and government officials. He
was appointed an Officer of the British Empire in the Queen's
Birthday Honours in 2011 for services to British business interests
in Japan.
Andrew has also extensive experience with charitable causes in
Singapore and the ASEAN region and was elected Vice President of
the Rotary Club of Singapore from 2017 to 2018. Andrew graduated
from the University of London and is fluent in Japanese, Italian
and French.
Disclaimer
This announcement is an advertisement and does not constitute a
prospectus and investors must subscribe for or purchase any shares
referred to in this announcement only on the basis of information
contained in the prospectus to be published by the Company in due
course (and in any supplementary prospectus) (the "Prospectus") and
not in reliance on this announcement. Investors should read the
Prospectus before making an investment decision in order to fully
understand the potential risks and rewards associated with the
decision to invest in ordinary shares in the Company. Approval of
the Prospectus by the Financial Conduct Authority (if such approval
is obtained) should not be understood as an endorsement of the
Shares. When made generally available, copies of the Prospectus
may, subject to any applicable law, be obtained from the registered
office of the Company and will be made available for viewing at the
National Storage Mechanism and on the Company's website. This
announcement does not constitute, and may not be construed as, an
offer to sell or an invitation to purchase investments of any
description, a recommendation regarding the issue or the provision
of investment advice by any party. No information set out in this
announcement is intended to form the basis of any contract of sale,
investment decision or any decision to purchase shares in the
Company.
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END
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(END) Dow Jones Newswires
September 15, 2022 02:00 ET (06:00 GMT)
Fintech Asia (LSE:FINA)
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