TIDMTSL

RNS Number : 4321G

ThinkSmart Limited

29 March 2022

29 March 2022

ThinkSmart Limited

    ("ThinkSmart" or the "Company"   which together with its subsidiaries is the "Group")

Capital Return and Dividend

Block shareholding

ThinkSmart Limited (AIM: TSL), a specialist digital payments platform business, announces the intention to return approximately GBP2.5 million to shareholders.

Subject to shareholder approval at a General Meeting to be held prior to 30 June 2022, the Company intends to return an amount to shareholders in July 2022 of the Australian Dollar equivalent of approximately GBP2.5 million, consisting of a return of share capital of approximately GBP2.125 million in Australian Dollar equivalent by way of a capital reduction and an unfranked dividend of approximately GBP0.375 million in Australian Dollar equivalent. The specific timings and Australian Dollar amounts of the payments will be confirmed in the coming weeks. As at the date of this announcement, the Group has approximately GBP5 million of cash or cash equivalents.

ThinkSmart continues to hold a position of 618,750 shares in Block, Inc (NYSE: SQ) ("Block") which based on a closing price of US$138.12 on 28 March 2022 and 1.31 USD: 1 GBP is valued at GBP65.2m equivalent to 61 pence per ThinkSmart share. This shareholding which was previously held by ThinkSmart's UK wholly owned subsidiary, ThinkSmart Europe Ltd, has today been transferred from ThinkSmart Europe Ltd to the parent company ThinkSmart Ltd as part of the ongoing simplification of the group structure.

For further information please contact:

 
 ThinkSmart Limited                  Via Buchanan 
 Ned Montarello 
 
 
 Canaccord Genuity Ltd (Nominated 
  Adviser and Broker) 
  Sunil Duggal 
  Andrew Potts 
  Tom Diehl                          +44 (0)20 7523 8350 
 Buchanan 
  Giles Stewart 
  Chris Lane 
  Toto Berger                        +44 20 7466 5000

Notes to Editors

About ThinkSmart Limited

ThinkSmart's roots are as a specialist digital payments platform business. Following the sale of its remaining 10% shareholding in Clearpay in January 2022, the Group holds shares in NYSE listed Block, Inc (NYSE: SQ). The Group also provides an outsourced call centre customer service and support service to Clearpay and is managing the wind-down of its leasing business.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

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END

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March 29, 2022 09:00 ET (13:00 GMT)

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