Key details of Change Financial's successful share purchase plan

Change Financial Limited (ASX:CCA) has successfully closed its Share Purchase Plan (SPP) on 19 September 2024, surpassing the target raise amount. The Company aimed to raise up to A$750,000 under the SPP and received applications totalling A$939,375. All valid applications from eligible shareholders were accepted in full, with no scale-back applied. The new shares will be issued on 25 September 2024.

Executive commentary on the successful closure of the Share Purchase Plan

The Board of Directors of Change Financial Limited is pleased to announce the successful closure of the Share Purchase Plan, which exceeded the target raise amount. We are grateful for the overwhelming support from our shareholders and are committed to utilizing the raised funds effectively to further our innovative and scalable technology in providing tailored payment solutions, card issuing, and testing to banks and fintechs globally.

Summary of Change Financial's Share Purchase Plan results and outlook

Change Financial Limited (ASX:CCA) has surpassed its target raise amount in the Share Purchase Plan, receiving applications totalling A$939,375 against the targeted A$750,000. The Company expresses gratitude to its shareholders for their unwavering support. The successful closure of the SPP reflects investor confidence in Change's global fintech operations. With the raised funds, Change aims to continue leveraging its innovative technology to deliver simple, flexible, and fast-to-market payment services, including card issuing and testing, to its 150+ clients across 40+ countries. The issuance of new shares on 25 September 2024 marks a significant milestone for Change Financial as it progresses towards its strategic goals and expansion in the fintech industry.