TIDMTNT
RNS Number : 6039R
Tintra PLC
07 July 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
7 July 2022
TINTRA PLC
("Tintra", the "Group" or the "Company")
Filing of further UK Patent Application to Protect Web3
Intellectual Property
Notice of AGM
Update on Funding Round
Filing of Patent
The board of directors (the "Board") of Tintra , the rapidly
innovating Deep Tech & Banking business, is pleased to announce
that it has filed a further UK patent application (the "Patent") to
protect intellectual property that it has created as part of its
rapid research and development program.
The newly filed invention extends the Company's previous
application, GB2208742.3, which related to the linking of regulated
and unregulated digital wallets when there is established common
ownership, particularly in the context of Web 3.0.
The new filed patent, entitled, "Method And System For
Obfuscating Sensitive Personal Data In Processes Requiring Personal
Identification In Unregulated Platforms", presents a system and
method which enables verification of personal data linked to a
wallet address on a public ledger of an unregulated platform.
The Company will be seeking international patent protection for
its intellectual property, taking into account different patent
regulations.
Notice of AGM and Full Year Results
The Annual General Meeting for the year ending 31 January 2022
will be held at 9.30 am on 29 July 2022 at The Athenaeum Hotel,
Green Park Conference Suite, 1st Floor, 116 Piccadilly, London W1J
7BJ (the "AGM"). The notice of the AGM will be published today on
to the Company's website in accordance with the electronic
communications provisions of the Company's Articles of
Association.
The Company's audited annual report and accounts for the year to
31 January 2022 (the "Annual Report") will be published, and final
results for the same period announced, during the week commencing
25 July 2022 , as a result, Resolutions 1, 8 and 9, related to the
contents of the Annual Report, will be adjourned during the AGM
until mid-August, for which a separate notice will be provided in
due course.
Update on Funding Round
As set out in the Company's strategy update announced on 4
November 2021, when the second funding round was announced, the
Company anticipated three funding rounds to be undertaken during
the financial years to 31 January 2022 & 2023. The first of the
three being the initial funding provided by Tintra Acquisitions
Limited, announced on 25 March and 15 July 2021.
This same announcement of 4 November 2021 stated that each
funding round would be at a higher valuation and for a larger
amount.
As such, after careful consideration on the outcomes of the
90-Day Plan referenced in last month's announcement the Board has
decided to consider the second funding round closed.
By extension, the material leaps forward during Q2 2022 means
that the Company is further along than anticipated at this point in
its roadmap, and as such feels that it is in a position to commence
the third funding round with new terms as described in the
announcement of 4 November 2021.
The Company anticipates commencing the process of this funding
round during late July with a view to closing by the end of
October. The next funding round is intended to provide capital
sufficient for the next phase which includes the build of the
technology platform and finance required for the applications and
awards of the licences and authorisations for the regulated
activities which have already been submitted (and previously
announced).
Richard Shearer, the Company's Chief Executive, said "As I
commented last month the results of our most recent 90-Day Project,
even with dozens of quite brilliant minds working at full capacity,
exceeded our expectations.
The resulting 500-page Go-Forward Plan has since then been used
to build an action strategy against required deliverables. It is
that document that informs the view we have taken about our next
funding round.
We expected at this stage to still be in a discovery phase,
however we have progressed to a point where we now have hit key
indicators in our road map earlier than antipated. These include
patent filings, our first major banking licence award being in
clear view along with the better than expected first steps in our
UK pre-application process.
Yesterday an internal all-hands meeting discussed the results of
these processes and as such we are during this month planning to
finalise an investor pack to seek investment based on these new
fundamentals. "
For further information, contact:
Tintra PLC
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com 020 3795 0421
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek
Bhardwaj 020 3328 5656
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END
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