Company Announcements

17 October 2024

Augmentum Fintech plc

Proposed acquisition of Farewill by Dignity

 

Augmentum Fintech plc (LSE: AUGM) (the "Company" or "Augmentum"), Europe's leading publicly listed fintech fund, notes the announcement by Castelnau Group plc ("Castelnau") that Dignity (in which Castelnau has a controlling stake) has agreed to acquire Farewill, the digital financial and legal services platform for dealing with death and after-death services and a portfolio investment of the Company. Any such acquisition will be subject, inter alia, to the receipt of the necessary regulatory approvals.

Under the terms of the proposed acquisition, Augmentum will receive shares in Castelnau Group plc as consideration for its holding in Farewill.

Augmentum's understanding of the terms of the proposed acquisition implies no material change to NAV.

Augmentum first invested in Farewill in January 2019.

Completion of this acquisition is not expected to occur before 1 January 2025.

 

 

Enquiries

        Augmentum Fintech
                                           +44 (0)20 3961 5420
Tim Levene (Portfolio Manager)
                                           georgie@augmentum.vcGeorgie Hazell Kivell (Investor Relations)

Quill PR
                                           +44 (0)20 7466 5050
Nick Croysdill, Sarah Gibbons-Cookaugmentum@quillpr.com
(Press and Media)

Peel Hunt LLPLiz Yong, Huw Jeremy                       +44 (0)20 7418 8900

(Investment Banking)

Singer Capital MarketsJames Moat, James Fischer                  +44 (0)20 7496 3000

(Investment Banking)

Frostrow Capital LLP
                                           +44 (0)20 3709 8733
Paul Griggs (Company Secretary)

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UK's only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.