24 Jan 2020 18:03
24 January 2020
Finablr PLC
Statement regarding share price
Finablr plc ("Finablr, or the "Company" or the "Group") notes the share price reaction today in connection to the announcement of the pledge associated with the holding of BRS Investment Holdings 1 Limited's ("BRS") shares.
The Company's operations continue to function as normal. The recent cyber incident at Travelex is in the course of being resolved and has no impact on 2019 results and also is not expected to have a material impact on the Group's performance in 2020.
The Company has sought clarification from BRS, of which the Company's Co-Chairman Dr B. R. Shetty and Board member Mr Binay Shetty are principal holders, about the pledge disclosures announced this morning. BRS has reassured the Company around the level of security represented by its shareholding in Finablr and the discussions that it has had with its banking group around repayment/refinancing of the loan as well as the other collateral sources should these be required.
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Enquiries
Finablr
Ryan Ayache, Head of Investor Relations +971 56 681 53 21
Faiz Akbar Habib, Head of Group Communications +971 52 623 11 13 / +44 7912 895375
Brunswick Group
Gill Ackers, Diana Vaughton +44 207 404 5959
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