KRM22 PLC says share subscription and distribution deals with Trading

On Jan 16, 2022

The share subscription was flagged last month and was dependent on the acquisition of Trading Technologies by 7RIDGE Investments; that acquisition was completed just before Christmas.

KRM22 PLC (AIM:KRM, OTC:KRMCF), the technology and software investment company, said Trading Technologies has completed the subscription for 25% of the company.

The share subscription was flagged back at the beginning of November and was dependent on the acquisition of Trading Technologies by 7RIDGE Investments; that acquisition was completed just before Christmas.

Trading Technologies pumped (TT) £4.7mln into KRM, acquiring 8.9mln shares at 53p a share.

KRM22 has, as previously indicated, entered into a distribution agreement with TT to market and distribute KRM22 risk management products to TT’s customers.

Also as previously indicated, Keith Todd will relinquish his role as chief executive officer of KRM22 while remaining executive chairman of the company.

READ KRM22 to get cash injection as it plans distribution agreement with Trading Technologies

“The completion of the share subscription and distribution agreement will provide KRM22 with a springboard for growth in 2022. I’m very excited to announce Stephen Casner as CEO. We have been working together on KRM22 since 2018 and have a common and aligned view of the company’s strategy and operational approach,” Todd said.