Regulatory News

Result of Open Offer

04 September 2019

Further to its announcement dated 16 August 2019, Equals Group PLC, the e-banking and international payments group, confirms that the Open Offer closed for acceptances at 11.00 a.m. on 3 September 2019 with final valid applications from Qualifying Shareholders in respect of 246,173 Open Offer Shares including applications under the Excess Application Facility.

Accordingly, including the additional funds raised though the Open Offer, the Company will have raised a total of approximately £14.3 million (before expenses) via the Placing and the Open Offer, following the issue and allotment of 246,173 Open Offer Shares. An application has been made for 246,173 new Ordinary Shares to be admitted to trading on AIM (Admission), which is expected to take place at 8.00 a.m. on 5 September 2019.

Following Admission, the Company's issued ordinary share capital will comprise 178,175,252 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares"), of which none are held in treasury. The above figure of 178,175,252 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used but not defined in this announcement shall have the same meaning as set out in the announcement of the Placing and Open Offer dated 16 August 2019.


For more information, please contact:

Equals Group plc
Ian Strafford-Taylor, CEO
+44 (0) 20 7778 9308
Cenkos Securities plc - Nominated Advisor and Joint Broker
Max Hartley (Nomad)
Callum Davidson
Nick Searle - Sales
+44 (0) 20 7397 8900
Canaccord Genuity Limited - Joint Broker
Bobbie Hilliam
David Tyrrell
Alex Aylen - Sales
+44 (0) 20 7523 8150
Yellow Jersey
Charles Goodwin
Joe Burgess
Annabel Atkins
+44 (0) 7747 788 221
+44 (0) 7796 325 254
+44 (0) 7983 557 851


About Equals

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model. Our business enables personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies and across a range of products all via one integrated system. The Equals platform facilitates payments either direct to Bank Accounts or at 35 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA debit cards.

Equals provides money movement services to both personal and business customers through four channels: Currency Cards, Physical Currency, International Payments and Bank Accounts. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the International Payments channel supports wire transfer foreign exchange transactions direct to Bank Accounts. For Corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card. This service can yield significant savings on a Corporate's expenses and procurement both domestically and overseas, through better controls and improved transparency. The platform also streamlines the downstream administrative processes and integrates into accounting software, thus saving costs. Equals offers retail and business bank accounts with all the functionality you would expect from a bank, namely faster payments, BACs, direct debits, international payments and a debit card.