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Finbond Director’s Multi-Million Rand Share Purchase Boosts Investor Confidence

Finbond Group
  • Finbond Group Limited director, Mr. Sean Riskowitz, purchases 72,991,237 Finbond shares through Protea Asset Management LLC.
  • The on-market purchase was made at a price of 25 cents per share, totaling R18,247,809.25.
  • The acquisition highlights Mr. Riskowitz’s confidence in Finbond’s strategic direction and reinforces investor belief in the company’s growth potential.

In accordance with the JSE Listings Requirements, Finbond Group Limited (FGL) has disclosed the completion of an on-market share purchase by Mr. Sean Riskowitz, an Independent Non-Executive Director of the company. The transaction was executed through Protea Asset Management LLC, an associate of Mr. Riskowitz, and marks a significant development in the company’s ownership structure.

The purchase, which took place on June 9, 2023, involved a substantial number of shares, with 72,991,237 ordinary shares changing hands. The acquisition was made at a price of 25 cents per share, resulting in a total transaction value of R18,247,809.25. This significant investment demonstrates Mr. Riskowitz’s confidence in Finbond Group Limited and its future prospects.

Finbond Group Limited, a prominent financial services provider, operates in South Africa and has gained recognition for its diverse range of banking, insurance, and lending solutions. The company has an established presence in both domestic and international markets, making it an attractive investment opportunity for shareholders.

Mr. Sean Riskowitz, as an Independent Non-Executive Director, brings extensive experience and expertise to Finbond’s board. His decision to acquire a significant number of shares through Protea Asset Management LLC indicates a strong belief in the company’s strategic direction and growth potential. This purchase not only strengthens Finbond’s financial position but also underscores the commitment of its directors to creating long-term value for shareholders.

The acquisition of Finbond shares by Protea Asset Management LLC, as an associate of Mr. Riskowitz, reflects a vote of confidence in the company’s prospects and underscores the investor community’s belief in its ability to deliver sustainable growth. The transaction further solidifies Finbond’s market standing and highlights the attractiveness of its investment proposition.

Compliance with regulatory requirements and transparency remain top priorities for Finbond Group Limited. By promptly disclosing this transaction, the company ensures that shareholders and the market are fully informed about significant dealings by its directors. This commitment to openness and accountability strengthens investor trust and confidence in the company’s operations.

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