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“Finablr offers a huge opportunity in the digital payments space across multiple emerging markets and its assets and proprietary technology positions it for further global growth.”
Companies House filings show Prism Advanced Solutions was incorporated last November. As well as Rothschild, the business’ two other directors are listed as Amir Nagammy and Tareq Jaafar Al Wazzan.
A spokesperson for Finablr declined to comment on who was behind Prism.
Rothschild said the deal represented “the first major UAE-Israeli commercial transaction,” without elaborating on the Israeli connection.
UAE and Israel reached a historic peace deal in mid-September that established diplomatic relations between the two countries for the first time in history.
https://www.google.co.uk/amp/s/uk.sports.yahoo.com/amphtml/news/finablr-takeover-offer-travelex-prism-guy-rothschild-083313772.html
Go on then, 50p will do. Lol
Remember some big investors here who have been in here over £1, the offer has to be approved by shareholders so they’re will be a sweetener in there to secure shareholder approval.
@reece
I’ve been told its not the year high - it’s the highest price the buyer or consortium had paid when acquiring in the past 12Months.
So any Tr1’s from Prism Advance Solutions, if not then I think its a price negotiated by the board.
That would be nice. Seriously there is no ****ing way it will be a 1000th of that.
Blimey had these wrote off nice see what comes back ...gla
pretty certain the price must be at least the 52 week highest figure
This may be a pile of mince but does the sp not have something to do with the 52 week high, I don’t want to get anyone’s hopes up as I also have written this off so anything is better than nothing.
Doh consolation LOL
Indeed sir, i would also be delighted with 10p considering had written it of. Fingers crossed for a decent consultation. Gla
Cheers Amm. 10p a share would be very nice, but don't think we'll be that lucky. Not long to wait though. Any return is better than nothing mon Ammi.
Lol
Where’s Coggy? He will be happy.
Does anyone know what the debt is? & did travelex take part of the debt with it?
Written this off entirely so even if I only get 30 quid for all my shares that’s better than I’d expected.
Soon see I guess.
I'm in at 18p per share and sincerely doubt i'm going to get anything near this. I would be delighted to be proven wrong and I would bite their hand off at 20p.
However if Prism are taking on the debt, then value is going to be annihilated. However the chance to recoup something is a lot better than I had expected.
06 October 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
6 October 2020
Finablr PLC ("Finablr")
Offer for Finablr Limited
Finablr PLC is pleased to announce that it has received an offer from Prism Advance Solutions Limited ("Prism") for the purchase of 100% of the share capital of Finablr Limited and its subsidiaries ("Target"). After due consideration the Board has approved the offer and the Company will proceed to negotiate a share purchase agreement with Prism documenting the terms of the transaction and seek shareholder and regulatory approval.
Prism's offer has three key elements that will see this transaction successfully completed within four weeks subject to all legal approvals being obtained: a) restructuring and settlement of the debts of the Target and its subsidiaries; b) provision of working capital for the Target and its subsidiaries; and c) Prism restructuring the board of the Target and its subsidiaries.
Statement from Guy Rothschild, Co-Founder and Director, Prism Advance Solutions:
"We are delighted with the Finablr deal, representing as it is the first major UAE-Israeli commercial transaction. We are very thankful to the UAE leadership and authorities who have been incredibly supportive of us. We look forward to working closely with them in the revival of the Company. We acknowledge that it's going to be a challenging journey and that there would be difficulties along the way, but we are confident that with the support from all parties involved we will realize Finablr's full potential. Finablr offers a huge opportunity in the digital payments space across multiple emerging markets and its assets and proprietary technology positions it for further global growth."
Statement from Bhairav Trivedi, Group Chief Executive Officer, Finablr PLC:
"After months of hard work under very trying liquidity conditions compounded by the impact of the Coronavirus on our operations, I am excited to now go forward with Prism. My management team has done a stellar job of focusing on our operations whilst seeking a holistic solution for the Group. Our employees have worked at reduced or zero pay for some months and this deal is only possible thanks to their hard work and sacrifice. We now enter a new chapter in the Company's history. We thank all our clients, regulators, creditors, advisors, and vendors who stood by us during these trying times. We are honoured to be involved in this game-changing transaction in the Middle East."
Statement from Michael Tomalin, Non-Executive Chairman, Finablr PLC:
"The deal with Prism offers the optimal solution for Finablr. I want to thank the Board, Bhairav and his management team, our employees, regulators, creditors and advisors for their hard work and support in these past months."
Statement from H.E. Abubaker Al Khoori, CEO, Royal Strategic Partners LLC:
"We welcome our new international investors and are
Latino,
I have 60,000 shares and had mentally written them off. An offer over 20p would be great. At least it is not a delisting RNS!
Anticipating way above 20p/share deal, it has to get shareholder approval so there will be a sweetener to push deal through...and they’re pushing this hard to conclude in next 4 weeks!
After due consideration the Board has approved the offer and the Company will proceed to negotiate a share purchase agreement with Prism documenting the terms of the transaction and seek shareholder and regulatory approval.
Prism's offer has three key elements that will see this transaction successfully completed within four weeks subject to all legal approvals being obtained: a) restructuring and settlement of the debts of the Target and its subsidiaries; b) provision of working capital for the Target and its subsidiaries; and c) Prism restructuring the board of the Target and its subsidiaries.
That's 20p per share I assume......... if only we could get that
No mention of offer value... but 100% shareholding, so that’s promising, but would like a value... just need my 20p back!
Yes but how much per share? whats teh offer price?
Do you think we will get anything back or just be a write of for share holders?
Finablr is back!
Well it hasn't sunk yet. Probs caught with his hands in the till.
Rats leaving a sinking ship