Oversubscribed Placing

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Mode Global Holdings PLC

Oversubscribed Placing

Mode Global Holdings PLC ("Mode"), the LSE-listed fintech group, is pleased to announce the successful completion of a materially over-subscribed placing (the "Placing"), arranged by Peterhouse Capital Limited, to raise £6,000,000 to support the continuing rapid growth of Mode's new-breed financial products and services.

Highlights:

·    Successful £6,000,000 capital raising completed by way of an oversubscribed placement of 10,909,091 new ordinary shares at a price of £0.55p each (the "Placing Price") to UK institutional funds, high net worth family offices and professional investor clients of Peterhouse Capital;

·    The Placing Price represents a premium of 10 per cent. over Mode's October 2020 IPO price of £0.50p and a discount of 12% to the closing mid-price of the Company's shares on 25 February 2021 (being the latest practicable date prior to the publication of this announcement);

Jonathan Rowland, Executive Chairman, commented: "As with the Mode offering at the time of our IPO last October, this placing was significantly oversubscribed. We are especially gratified that we have now attracted, as a result of this placing, a range of new institutional shareholders. These additional funds will also provide the Company with strong cash reserves to push forward our stated near-term strategic objectives, which will include:

·    Launching a revolutionary payments solution powered by Open Banking that eliminates the need for cards;

·    Developing a loyalty and rewards engine that allows merchants to provide personalised offers and rewards, including Bitcoin rewards, to customers;

·    Integrating the new payment and reward capabilities into the Mode app and relaunching it as the Mode Super App -a next-generation financial super app with unique payments, investments, loyalty and digital asset features, all in one;‍

·    Continuing to expand Mode's business client base using global payment and marketing services, such as WeChat and Alipay, connecting more UK and European businesses with a growing consumer base from China and beyond;

·    Investing further into Bitcoin to maintain Mode's Bitcoin treasury position at 10% of its total cash reserves.

"The Company has been extremely busy since our October IPO, but shareholders can expect with these additional funds that we will now accelerate these ambitious and exciting development plans. Mode is in the right place, at the right time, and shareholders can confidently now look forward to exciting news in the near future."

Application will be made for the new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to the Official List of the Financial Conduct Authority ("FCA") and to trading on the Main Market (Standard List) of the London Stock Exchange plc ("LSE") ("Admission"). Subject to approval by the FCA and LSE, dealings are expected to commence on or about 3 March 2021.

The Company's total issued and voting share capital upon admission of the new Ordinary Shares will consist of 91,446,096 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.