FIN Finablr Plc

TIDMFIN

RNS Number : 7346T

Finablr PLC

22 July 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.

22 July 2020

Finablr PLC ("Finablr" or the "Company")

Appointment of Skadden for investigation and pursuit of claims

Finablr today announces that it has appointed Skadden Arps Slate Meagher & Flom (UK) LLP as lead counsel in order to enable Finablr to investigate historic potential malfeasance within the Finablr Group and any misappropriation of assets of Finablr PLC and certain members of its group (the "Investigation"), and to facilitate the pursuit of potential claims which are the subject of the Investigation.

It is anticipated that forensic experts will be appointed in connection with the Investigation, which will include a comprehensive review of payments made and transactions carried out within the Finablr Group. Finablr has entered into a funding agreement with a third party funder to cover the cost of the Investigation and

potentiall y the   pursuit   of claims. 

Finablr encourages any party or person with knowledge of any wrongdoings to come forward and co-operate with Skadden on this investigation. Concerned parties can reach out to ryan.junck@skadden.com

The Board and the newly appointed Management team of Finablr remains committed to identify any wrongdoings and recovering any of misappropriated monies and/or assets. Finablr continues to work with regulators and

authorities around  the   world on this matter. 

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For more information, visit the Finablr website: www.finablr.com

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END

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