Certain
information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the
United Kingdom. Upon publication
of this Announcement, this information is now considered to be in
the public domain.
17 February 2025
Tap
Global Group Plc
("Tap
Group" or the "Company")
Placing
to Raise £1 Million
Growth acceleration capital following record revenues
and move into profitability
Tap Global
Group Plc (AQSE: TAP), the FinTech app bridging the gap between
traditional finance and blockchain technology, announces it has
raised gross proceeds of £1 million by way of a placing (the
"Placing") of 50,000,000 new ordinary shares in the Company
("Placing Shares") at a price of 2
pence per Placing Share (the "Issue Price"). The Placing was
supported by a number of new and high-profile institutional
investors, as well as individual Tap Group directors.
Use
of Proceeds
Tap Group
has established a strong and now profitable platform with limited
resources to date and with an increasingly efficient operating
structure. Having reached cash flow positivity, the Company has an
opportunity to utilise additional capital to scale faster through
accelerated investment in marketing and customer acquisition,
including the activation of a substantial database of registered
users.
Directors’
Participation
The
Placing included participation by certain Directors of the Company
who invested, in aggregate, £100,000, as detailed below and in the
Appendix.
|
Director
|
Number
of Placing Shares subscribed
|
Resulting
shareholding following the Placing
|
Percentage
ownership following the Placing
|
|
Arsen
Torosian, Group CEO
|
2,500,000
|
442,481,185
|
59.52%
|
|
Peter
Wall, Non-Executive Chair
|
2,500,000
|
2,500,000
|
0.34%
|
The
participation by the Directors in the Placing is a related party
transaction as defined in the Aquis Growth Market
Rulebook.
Having
considered the terms attached to the Placing, and having exercised
reasonable care, skill and diligence, John
Taylor, the independent Director for the purpose of the
Directors’ participation in the Placing, considers that their
participation is fair and reasonable insofar as the shareholders of
the Company are concerned.
Broker
Warrants
In
consideration for the services of Tennyson Securities, which acted
as Broker to the Placing, Tennyson Securities will be issued with
2,250,000 warrants over New Ordinary Shares in the Company,
exercisable at the Issue Price, valid for three years.
Arsen Torosian, CEO of Tap Group,
commented:
“We
appreciate the support of investors who have quickly identified the
opportunity of our business to scale rapidly through accelerated
investment in customer activation and marketing. It is a
considerable vote of confidence to have some of London’s most
prestigious smaller company focused institutional funds join our
register. With an efficient operating structure and considerable
momentum in the cryptocurrency markets, we have the wind in our
sails and are focused on elevating Tap Group to the next
level.”
Admission
Application
will be made to the Aquis Stock Exchange for the Placing Shares to
be admitted to trading on the Aquis Growth Market segment
(“Admission”). It is expected that Admission will become effective
and that dealings in the Placing Shares will commence at or around
8.00 a.m. on 20 February 2025. The Placing Shares will be
issued fully paid and will rank pari passu in all respects with the
Company's existing ordinary shares of £0.001 each (“Ordinary
Shares”).
Upon
Admission, the Company will have 743,409,624 Ordinary Shares in
issue. There are no shares held in treasury. The total voting
rights in the Company will therefore be 743,409,624 and
shareholders may use this figure as the denominator by which they
are required to notify their interest in, or change to their
interest in, the Company under the Disclosure Guidance and
Transparency Rules.
The Directors of the Company accept responsibility for the contents
of this announcement.
Enquiries:
|
Tap Global Group Plc
Arsen Torosian, Chief Executive Officer
|
via Vigo Consulting
|
|
Peterhouse Capital Limited
(Aquis Growth Market Corporate Advisor)
|
+44 (0)20 7220 9795
|
|
Tennyson Securities
(Broker)
Peter Krens
Alan Howard
|
+44 (0)20 7186 9030
|
|
Vigo Consulting
(Investor Relations)
Ben Simons
Kendall Hill
Peter Jacob
|
+44 (0)20 7390 0230
tapglobal@vigoconsulting.com
|
About
Tap Global Group Plc
Tap Global Group Plc (“Tap Group”) bridges the gap between
traditional finance and blockchain technology. It offers over
380,000 individual and business customers an innovative and fully
integrated fiat payments and cryptocurrency settlement service
including access to several major cryptocurrency exchanges. Through
the Tap app, customers can trade up to 48 cryptocurrencies and
store them directly in their customer wallet, while benefiting from
proprietary AI middleware for real-time best-execution and
pricing.
Tap Group’s European business, Tap Global Limited, was the first
cryptocurrency FinTech company to be approved by Mastercard in
Europe. Through the Tap card,
European users can convert their cryptocurrencies to fiat and spend
at more than 37 million merchant locations worldwide.
Investor website:
www.investor.tap.global
Tap
Group’s operating subsidiaries
Tap Global Limited serves the European customer base and is
registered in Gibraltar and
licensed and regulated by the Gibraltar Financial Services
Commission under the DLT with licence No. 25532.
Tap Americas LLC serves the US customer base and is a limited
liability company organised under the laws of the state of
Florida. Cryptocurrency services
are provided by Zero Hash, a Chicago-based B2B2C crypto infrastructure
platform.
Learn more:
www.withtap.com
Follow
us on social media:
LinkedIn:
https://www.linkedin.com/company/tapglobal/
X (formerly Twitter):
https://twitter.com/TapGlobalPlc
APPENDIX
|
|
Notification
of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
|
|
1
|
Details
of the person discharging managerial responsibilities / person
closely associated
|
|
a)
|
Name
|
Arsen
Torosian
|
|
2
|
Reason
for the notification
|
|
a)
|
Position/status
|
Chief
Executive Officer
|
|
b)
|
Initial
notification /Amendment
|
Initial
notification
|
|
3
|
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Tap Global
Group Plc
|
|
b)
|
LEI
|
213800BF6GRJEOAQNP31
|
|
4
|
Details
of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
a)
|
Description
of the financial instrument, type of instrument
|
Ordinary
Shares of 0.1
pence each
in Tap Global Group Plc
|
|
|
|
|
Identification
code
|
GB00BMVSDN09
|
|
|
|
|
b)
|
Nature of
the transaction
|
Purchase
of shares
|
|
c)
|
Price(s)
and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
2p
|
2,500,000
|
|
|
|
|
|
|
|
|
d)
|
Aggregated
information
|
|
|
|
|
|
-
Aggregated volume
|
2,500,000
|
|
|
|
|
-
Price
|
2p
|
|
|
|
|
e)
|
Date of
the transaction
|
17
February 2025
|
|
f)
|
Place of
the transaction
|
Aquis
Growth Market Access Market
|
|
|
Notification
of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
|
|
1
|
Details
of the person discharging managerial responsibilities / person
closely associated
|
|
a)
|
Name
|
Peter
Wall
|
|
2
|
Reason
for the notification
|
|
a)
|
Position/status
|
Non-Executive
Chair
|
|
b)
|
Initial
notification /Amendment
|
Initial
notification
|
|
3
|
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Tap Global
Group Plc
|
|
b)
|
LEI
|
213800BF6GRJEOAQNP31
|
|
4
|
Details
of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
a)
|
Description
of the financial instrument, type of instrument
|
Ordinary
Shares of 0.1
pence each
in Tap Global Group Plc
|
|
|
|
|
Identification
code
|
GB00BMVSDN09
|
|
|
|
|
b)
|
Nature of
the transaction
|
Purchase
of shares
|
|
c)
|
Price(s)
and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
2p
|
2,500,000
|
|
|
|
|
|
|
|
|
d)
|
Aggregated
information
|
|
|
|
|
|
-
Aggregated volume
|
2,500,000
|
|
|
|
|
-
Price
|
2p
|
|
|
|
|
e)
|
Date of
the transaction
|
17
February 2025
|
|
f)
|
Place of
the transaction
|
Aquis
Growth Market Access Market
|
