Honye Financial Services Ltd Signing of White-Label Licence Agreement (8249R)
08 July 2022 - 5:08PM
UK Regulatory
TIDMHOYE
RNS Number : 8249R
Honye Financial Services Ltd
08 July 2022
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.
8 July 2022
Honye Financial Services Ltd
("Honye" or the "Company")
Signing of White-Label Licence Agreement
Following signing of the Appointed Representative Agreement, as
announced on 8 March 2022, Honye is pleased to announce that,
through its wholly owned subsidiary Honye Trading Limited ("HTL"),
it has signed a White-Label Licence Agreement (the "Licence
Agreement") with XNT LTD ("EXANTE"), pursuant to which HTL will be
able to access EXANTE 's brokerage services and investment
platform.
The Licence Agreement and Appointed Representative Agreement
will both only become effective upon completion of the Company's
proposed acquisition of Zoyo Capital Limited and re-admission
("RTO").
With the Licence Agreement and Appointed Representative
Agreement in place, the Company expects to generate revenue from a
Zoyo-branded white-labelled mobile application shortly after
completion of the RTO, whilst at the same time conducting further
R&D on its own stand-alone trading platform and progressing its
own FCA authorisation with the objective of eventually replacing
the white-labelled solution with its own proprietary and fully
authorised application.
Further to the Company's announcement on 9 June 2021, the
proposed acquisition of Zoyo Capital Limited is in the final stage
of conclusion . Following extremely positive initial feedback from
a number of potential cornerstone investors over recent weeks, the
Company is aiming to conclude the required fundraise in the near
future.
Shaun Wootton, Chairman of Honye, commented:
"We are pleased to announce the next step on the path towards
setting up and running an equity trading mobile application. This
approach will enable us to provide a trading solution to our
clients within a matter of weeks of the RTO, generating revenue and
raising brand awareness of the Zoyo name many months earlier than
would otherwise be the case."
CEO of EXANTE, Alexey Kirienko said:
"We're delighted to be partnering with Honye Financial Services
to offer our award-winning brokerage services. We look forward to
working with Honye going forward."
The Directors accept responsibility for this announcement.
-END-
Enquiries:
Honye Financial Services Ltd shaun@rosellecapital.com
Shaun Carew-Wootton
Peterhouse Capital Limited Tel: 020 7469 0933
(sole broker)
Lucy Williams/Heena Karani
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END
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