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Shares of Tintra (LON: TNT) have climbed over 4% Tuesday after it said that it is now at the pre-application stage for an IFE (International Financial Entity) Licence in Puerto Rico.
The company is currently seeking the relevant regulatory approvals to build banking infrastructure using artificial intelligence technology focused on emerging markets.
Tintra previously announced positions concerning a possible acquisition of an Electronic Money Institution licence in the UK and its application for a full banking licence in the Qatar Financial Centre.
They were announced in addition to 2 other jurisdictions, which included Puerto Rico.
The company said a Puerto Rican IFE will provide it with direct access to the New York Federal Reserve, allow the company to offer banking services to international (non-Puerto Rican resident) clients, and act as its pivot between Latin America, the US & Europe.
Tintra CEO, Richard Shearer, commented: “Many players in the fintech space are solving part of the emerging market problem, some of them very well. None are solving the whole problem. We strongly believe that we are able to pull these parts together and I would hope that with this announcement our strategy becomes even clearer.
“Just as we determined that Qatar provides us with the best regional access to Africa & MENA, our analysis and experience informs us that Puerto Rico does the same thing for Central & Latin America.”
TINTRA SHARE PRICE GAINS AFTER IT CONFIRMS APPLICATION FOR A PUERTO RICO IFE LICENCE
https://www.asktraders.com/analysis/tintra-shares-gain-after-applying-for-ife-licence/
Currently 90p
Investors recently paid 157p in Tintra, where shares currently trading at 90p
https://www.proactiveinvestors.co.uk/companies/news/961289/tintra-jumps-as--london-based-strategic-investor--buys-pizza-the-action-961289.html
Looks like they are obtaining banking licences worldwide, especially US.
Hence the Tintra listing this week in US Market.
Most of Tintra's conversations have been with institutional investors in the US, so this will certainly pick things up.
Tintra PLC outlines deal with award-winning AI fintech lab ‘FinSensr’
https://www.newbusiness.co.uk/articles/banking-finance/tintra-plc-outlines-deal-with-awardwinning-ai-fintech-lab-%E2%80%98finsensr%E2%80%99
BEFORE END OF THIS WEEK
Tintra will be trading in the US OTCQB Market, which will give more liquidity,
"many of our conversations with institutional investors have been in the US and we believe giving retail investors direct access to Tintra via OTCQB "
26 October 2021
TINTRA PLC
("Tintra", the "Group" or the "Company")
Application for a Puerto Rico IFE Licence
On 30 July 2021 the Company set out some outline detail of its strategy to obtain relevant regulatory approvals to enable it to build banking infrastructure using artificial intelligence technology focused on emerging markets, where it has identified a market need and commercial gap.
The Company has previously announced positions in relation to a potential acquisition of an Electronic Money Institution licence in the UK, along with its application for a full banking licence in the Qatar Financial Centre.
In addition to this the Company had previously stated that two other jurisdictions were being considered as part of its strategy and it is pleased to report that it is now at the pre-application stage for an IFE (International Financial Entity) Licence in Puerto Rico ("IFE").
A Puerto Rican IFE will provide the Company with direct access to the New York Federal Reserve, allow the Group to offer banking services to international (non-Puerto Rican resident) clients and will act as the Company's pivot between Latin America, the US & Europe.
Tintra CEO, Richard Shearer, commented, "Many players in the fintech space are solving part of the emerging market problem, some of them very well. None are solving the whole problem. We strongly believe that we are able to pull these parts together and I would hope that with this announcement our strategy becomes even clearer.
Just as we determined that Qatar provides us with the best regional access to Africa & MENA, our analysis and experience informs us that Puerto Rico does the same thing for Central & Latin America. Other options were considered and rejected for various reasons. An IFE is a full banking licence in all ways for non-Puerto Rican individuals and companies. As such having direct access to the New York Fed will mean we can provide clearing facilities for major partners across the world in United States Dollars, a not insignificant step.
We have advanced this materially and our advisors are confident we will see an active Tintra IFE during 2022 with a first draft of the application being submitted next month."
From interims 30/09/2021.
They had time to plan
Board of directors
On publication of the 2020 Annual Report, the lifting of the suspension in trading in the Company's shares and the raising of additional capital, Stephen Roberts resigned from the Board (as announced at the time).
As soon as Malcom Burne and Richard Lockwood are appointed to the Board, I shall also step down from the Board. I joined in August 2019, with Stephen Roberts and Martin Lampshire, in order to oversee the transformation of GRIT into a company which could be re-launched as an active natural resources investment trust. Although this has been a much harder task than we had anticipated at the time, I believe that we have now reached that point.
Future plans
Further details on my successors and on their plans for GRIT (which include proposals for the re-building of a small diverse portfolio of natural resources investments) will be set out in an announcement to be published at the time that they are formally appointed (expected very shortly). I wish them and Martin Lampshire, who will continue as Executive Director, every success for the future of GRIT.
ONLY £0.6m Market Cap
Recently raised £600,000 cash
Looking for investment in Natural Resource Sector.
New Board Changes to GRIT
Richard Lockwood Non-Exec Chairman of Ausgold Limited
Total Assets: $58,573,879
Malcolm Burne Chairman of Golden Prospect Precious Metals
Market Cap: £40,000,000
Richard Edwards has sold out, his remaining 288,888 in the RNS has been sold today, trade no.7.
and MM's still struggling with shares. This is telling me there is a back order to fill.
I'm expecting director RNS Holdings to appear soon.
Trades coming through from Friday, MM's have to balance their books, so they will need shares. Looks like they are struggling to get any PI's to sell. Price will go up for PI's to sell so MM's can balance their books or fill back orders.
Today's 11% drop scare, didn't even last 5 mins, recovered right away.
MM's you want some, come get some.
Richard Lockwood and Malcolm Burne both recently appointed by GRIT, Richard Lockwood and Malcolm Burne, both of whom are veteran fund managers, with exceptional records in the natural resources sector, will join the Board as Chairman and Executive Director respectively with immediate effect
Richard Lockwood Non-Exec Chairman of Ausgold Limited
Total Assets: $58,573,879
Malcolm Burne Chairman of Golden Prospect Precious Metals
Market Cap: £40,000,000
There have been Chunks of 100,000 and 250,000 and 500,000. Looks like someone want to get most of the copany shares before this skyrockets.
Any news on any agreement / negotiation / contract / Reverse takeover with a Natural Resource company will take this company between 2-3m
We are easily looking at 6-10p, near term.
Natural Resource Sector
MM's Picking up shares - £6000 get you 1% of Company
Hard to buy large amounts, keeps giong into NT
Richard Edwards has also purchased shares in GRIT
And so Has recent board member Malcolm Burne
Peterhouse sold on CLN shares directly to other Investros for 2.75p
Malcolm Burne Chairman of Golden Prospect Precious Metals
Market Cap: £40,000,000
Also joined GRIT
And is a shareholder of GRIT
GRIT Market cap 0.6m ONLY.
http://www.rns-pdf.londonstockexchange.com/rns/7143P_1-2021-10-20.pdf
http://www.rns-pdf.londonstockexchange.com/rns/7143P_1-2021-10-20.pdf