Lottery asset sale delay28 Jan 2022 08:40
Tintra is selling the assets of the lottery business not the company Prize Provision Services Limited.which means all the charities who use Prize Provision need to get set up with new bank accounts and agree a timing of when to switch off Prize Provision and change to the new buyer bank accounts.
So Tintra’s explanation for delay is valid and understandable.
RS is transforming company getting rid of loss making legal claims business, the non producing soccer investment and cost cutting ongoing business plus raising much needed new capital and via CLN conversion reducing debt. The transformation has been pretty rapid but shareholders have been kept well informed via RNS updates. Tintra is in a much better position than when I last commented on this Board.
It’s presently a bet on whether he can build an FinTech bank and the company is in process of obtaining banking licences and writing software.
The current valuation bakes in a lot of hope value so not one for me at present but one I will watch with interest.