TruFin

TruFin announces that it has agreed with Distribution Finance Capital Ltd ("DFC") to reschedule a final loan repayment by DFC to TruFin that falls due on 1 December 2020, pursuant to an unsecured loan agreed between the Company and DFC dated 29 May 2018 (and subsequently amended on 11 April 2019), when DFC was a subsidiary of TruFin (the "Loan"). The terms of the Loan were i) an interest rate of 5% per annum; (ii) £5,000,000 repayable by 1 December 2019; (iii) £5,000,000 repayable by 1 June 2020; and (iv) £8,868,219.18 repayable by 1 December 2020, in each case, together with any accrued but unpaid interest. In accordance with the agreement, and following its demerger from TruFin, DFC repaid the first two instalments of the Loan on 1 December 2019 and 1 June 2020. The rescheduling of the third and final repayment of the Loan permits DFC, should the outstanding balance of the Loan not be repaid in full on 1 January 2021, to make phased payments from 1 January 2021 over nine equal interest-bearing instalments, such that the Loan will be repaid in full by September 2021.