TruFin PLC Directorate Change and Relationship Agreement (7866B)

TIDMTRU TIDMTRU

RNS Number : 7866B

TruFin PLC

16 February 2022

TruFin plc

("TruFin", the "Company", or together with its subsidiaries the "Group")

Directorate Change and Relationship Agreement

The Company is pleased to announce the appointment of Mr Anders Wilhelmsen as a Non-Executive Director with immediate effect. Mr Wilhelmsen is appointed as a representative of Watrium AS ("Watrium"), pursuant to a Relationship Agreement which has been entered into between the Company and Watrium.

Mr Wilhelmsen has a financial background, with an MA Honours in Financial Economics from the University of St Andrews, and an MBA from INSEAD. He previously held a position at Morgan Stanley, and currently serves as Chief Investment Officer and Chairman of Watrium, Director at Sensio, and Shadow Director at HitecVision AS.

The purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on its business independently at all times. In accordance with the terms of the Relationship Agreement, Watrium is entitled to appoint one Non-Executive Director for as long as they retain an aggregate interest equal to or greater than 15 per cent in the issued ordinary share capital of the Company. Watrium currently holds an interest of 21.02 per cent.

Commenting on the appointment, Independent Non-Executive Chairman, Steve Baldwin, said:

"We are delighted to welcome Anders to the Board. As a long-standing and very supportive shareholder, Watrium have significant experience and knowledge of the Group's businesses. Anders brings considerable expertise in designing and implementing growth strategies which will greatly benefit the Group going forward."

Additional information required to be disclosed under Schedule Two of the AIM Rules

Mr Anders Christian Garmann Wilhelmsen, aged, 34, currently holds or has held the following directorships and partnerships over the last five years:

 
 Current                 Past 
 Sensio Holding AS       Prox Dynamics AS 
                        --------------------------------- 
 Sensio Midco AS         Euro Parking Collection PLC 
                        --------------------------------- 
 Trafficinvest Limited   CMR Surgical Ltd 
                        --------------------------------- 
 HitecVision AS          Hasker Street Investment Limited 
                        --------------------------------- 
 Oslo Atrium AS          Wak Family Office UK Limited 
                        --------------------------------- 
 Watrium AS              Wavi Holding AS 
                        --------------------------------- 
 Woyage S.A. 
                        ---------------------------------

Mr Wilhelmsen does not own shares in the Company, but has a beneficial interest in Watrium which currently holds 21.02 per cent of the Company's issued share capital.

Except as disclosed in this announcement, no other disclosures are required in respect of the appointment of Mr Wilhelmsen under paragraph (g) of Schedule Two of the AIM Rules for Companies.

For further information, please contact:

 
 TruFin plc 
   James van den Bergh, Chief Executive Officer      0203 743 1340 
   Kam Bansil, Investor Relations                     07779 229508 
 
  Liberum Capital Limited (Nominated Adviser and 
  Corporate broker) 
  Chris Clarke 
  Edward Thomas                                      0203 100 2000

TruFin plc is the holding company for an operating group of companies that are niche lenders and early payment providers. TruFin Group combines the benefits of both the traditional relationship banking model and developments in the fintech sector. The Company was admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More information is available on the Company website www.TruFin.com .

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