IN BRIEF: Honye Financial secures investment from private investor
Honye Financial Services Ltd - Cayman Islands-based company seeking acquisitions in financial services and financial technology - Says private investor Abdullah Alnuwaysir agrees to invest GBP1.5 million at GBP0.405 per share, subscribing for 3.7 million new shares. Honye also intends to issue 1.5 million warrants to Alnuwaysir upon completion of the reverse takeover. Warrants will not be exercisable until 36 months after the RTO, with an exercise price of GBP0.01 per share. Explains the investment is the first stage of the parties' intention to develop a long-term partnership, including the company assisting with procuring Zoyo Capital Ltd, the RTO target, granting Alnuwaysir an initial 12 month white-label licence to use its technology. On receipt of funds, plans to loan GBP0.5 million to Zoyo. This will enable Zoyo to accelerate the development of its securities broking platform. Rest of funds will be used for general working capital purposes. Read More