InvesCore Financial Group Pte. Ltd. entered into non-binding heads of terms to acquire Fintech Asia Limited (LSE : FINA) in a reverse merger transaction.
Completion of the proposed acquisition is subject to various conditions, including the completion of appropriate due diligence, the entering into of a sale and purchase agreement, the approval of Fintech Asia shareholders at a general meeting to be convened in due course, the publication of a prospectus by Fintech and approval of FCA. The long stop date for the entering into a definitive sale and purchase agreement is December 31, 2023. As of September 8, 2023. intech Asia Ltd on Friday said it obtained an unsecured committed facility of GBP1 million via a convertible loan note instrument with the noteholder IVC Estonia OU. Rory Murphy of Strand Hanson Limited acted as financial advisor of Fintech Asia Limited.