Honye Financial Services Ltd Transaction Update (4789M)

TIDMHOYE

RNS Number : 4789M

Honye Financial Services Ltd

21 September 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

21 September 2021

Honye Financial Services Ltd

(the "Company" or "Honye")

Proposed Transaction

Further to the Company's announcement on 9 June 2021 regarding a proposed acquisition of the entire issued share capital of Zoyo Capital Limited ("Zoyo" and the "Acquisition"), the independent directors wish to provide an update on progress. The Company is finalising its due diligence on Zoyo and negotiating the final terms of the sale and purchase agreement to be entered into between the Company and Zoyo's shareholders. The Company is progressing with the FCA's review of its prospectus and hopes that final eligibility approval and completion of the Acquisition will be concluded in the final quarter of the year.

There can be no certainty that the Acquisition will take place and it remains subject to the completion of a number of workstreams and final eligibility approval by the FCA.

A further announcement will be made in due course.

-Ends-

Further information:

Honye Financial Services Ltd

Gareth Edwards (garethmedwards1@gmail.com)

Peterhouse Capital Limited (sole broker)

Lucy Williams/Mark Anwyl +44 207 469 0930

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