19 Feb 2020 10:58
19 February 2020
Finablr plc (the "Company")
As an update to the Company's announcement on 9 February 2020 in relation to purported arrangements between Dr BR Shetty, His Excellency Saeed Mohamed Butti Mohamed Al Qebaisi and Khaleefa Butti Omair Yousif Al Mulhairi, the independent directors of the Company have continued urgently to seek further information from the Shetty family to clarify the position as to the respective interests in the Company's shares, including through the issuance of formal notices under Section 793 of the Companies Act 2006.
The independent directors have been informed that the Shetty family and their advisers are not yet in a position fully to respond to them but have undertaken to do so as soon as possible. The independent directors are seeking to resolve the position by the end of February 2020 at the latest.
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Enquiries
The Company
Finablr PLC
Robert Moorhouse, Group Company Secretary +44 7825 213767
Ryan Ayache, Head of Investor Relations +971 2 3073 176
About Finablr
Finablr is a global platform for Payments and Foreign Exchange solutions underpinned by modern proprietary technology. With deep regulatory know-how, a relentless focus on innovation and leading industry partnerships, Finablr' s group companies provide a broad array of tailored and trusted financial solutions for consumers and businesses across a wide network of digital channels, payments platforms and retail stores.
Finablr is present across the entire payments and foreign exchange value chain, from origination to processing to last-mile distribution. An integrated platform is at the heart of group's proposition, supporting an omni-channel strategy underpinned by best-in-class operating capabilities and connectivity to global payment networks. Driven by technology, the platform combines flexibility with significant economies of scale, making Finablr a partner of choice for leading global banks, financial institutions, retailers, mobile wallet providers and payment & technology companies.
Through its category renowned brands, including UAE Exchange, Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych, Finablr processed over 150 million transactions in 2018, managing nearly USD 115 billion in volume for its customers. The groups global reach spans over 170 countries with relationships with more than 100 regulators.
For more information, visit the Finablr website: www.finablr.com