Key Facts of Complii FinTech Solutions Ltd Announcement

Complii FinTech Solutions Ltd (ASX:CF1) has successfully completed the sale of Registry Direct after receiving approval from shareholders at the General Meeting held on 3rd October 2024. The transaction involved a deposit of $100,000 upon execution of the binding Share Sale Agreement and a payment of $3,250,000 as the sale price proceeds. Additionally, Complii will receive a service fee payment of $500,000 on 7th October 2024, with two further payments of $500,000 each scheduled for June 2025 and June 2026 under a services agreement (SA). Mr Roe has resigned from the board of CF1, and Mr Mason and Ms Sarich have resigned from the board of Registry Direct.

Executive Commentary on the Sale of Registry Direct

The completion of the sale of Registry Direct marks a significant milestone for Complii. This transaction aligns with our strategic focus and allows us to further strengthen our long-term relationship with Registry Direct. We are committed to providing continued access to the Complii platform, including the Adviser Bid/Corporate Highway product and the PrimaryMarkets Platform, to support Registry Direct clients in their capital raising and securities trading activities. We believe this sale will enhance our position as a full-service software provider for AFSL holders, reinforcing our commitment to delivering innovative solutions to the market.

Summary of Complii FinTech Solutions Ltd Announcement

Complii FinTech Solutions Ltd (ASX:CF1) has successfully finalized the sale of Registry Direct, with the transaction consideration totaling $3,250,000 in sale price proceeds. The company will also receive service fee payments of $500,000 on 7th October 2024, and two additional payments of $500,000 each in June 2025 and June 2026 under a services agreement. The completion of this sale underscores Complii's dedication to fostering a long-term relationship with Registry Direct, ensuring continued access to the Complii platform and its associated products. This strategic move further solidifies Complii's position as a comprehensive software provider for AFSL holders, offering tailored solutions to meet compliance, capital raising, and operational needs in the financial services industry.