(Alliance News) - Tintra PLC has announced it expects the GBP1 million payment from Cap-Meridian Ventures Ltd to finish processing on Monday.
The Windsor, England-based banking technology company said the payment is in the final stages of being processed. The USD1 million will come as a subscription settlement of 148,511 new ordinary shares, from Cap-Meridian, the global investment arm of Omar Mangalji and the Canadian Mangalji family.
Tintra had previously expected receipt of the funds last week, but said this was not possible before close of business on Friday. Due the high amount, a final verbal security verification needs to take place, it explained.
The company will make a further announcement once the completion of funds has been finalised.
Tintra's share price jumped 8.0% to 324.00 pence each in London on Monday morning.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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