Everfex Restructuring Filing

Fiinu PLC

01 October 2026

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.

1 October 2026

Fiinu Plc ("Fiinu" or the "Company")

Everfex Restructuring Filing

Fiinu announces that, its subsidiary, Everfex P.S.A. ("Everfex") has filed an application with the competent Polish court to open ordinary arrangement proceedings under Polish Restructuring Law.  These are, in effect, protective restructuring proceedings in Poland.

As announced on 10 September 2026, Tomasz Kwaśniewski and Mikołaj Grzybek, parties associated with the former ownership of Everfex, informed the Company that they had filed bankruptcy petitions against Everfex in respect of historic loans which Everfex disputes. The Board considers that the circumstances surrounding certain historic arrangements, including the approval, use, rollover and repayment of loans, require independent examination. The purpose of the ordinary arrangement proceedings is to place these, and other creditor claims within a court-supervised process in which their validity and treatment can be independently determined.

Shareholders should be aware that the Everfex Share Purchase Agreement ("SPA"), entered into in August 2025, includes indemnity protections in respect of certain pre-acquisition obligations and is supported by contractual guarantees. Fiinu and Everfex have taken steps to preserve and pursue their rights under the SPA against the relevant seller and guarantors. The indemnity notice issued in respect of certain Staly Kurs loan obligations expressly seeks recovery from the seller and relevant guarantors.

When the proceedings are opened, an independent court-appointed judicial supervisor will oversee the process, including the verification and treatment of creditor claims, while Everfex's management will remain responsible for ordinary-course operations. The process provides a framework for determining how valid claims should be treated.

The application follows a review by the Fiinu board ("Board"), together with Polish legal and restructuring advisers, of Everfex's current creditor position and the recent emergence of a potential historic disputed claim and creditor demand relating to matters dating back to 2021, years before Fiinu acquired the business in August 2025.

Everfex has also filed secondary proceedings to protect Everfex's management board's position, being an application for a declaration of bankruptcy in order to comply with the statutory obligations of its management board, and has requested that this application be stayed pending determination of the restructuring application. Under Polish law, the restructuring application is considered first.

No bankruptcy order has been made and Everfex continues to operate.

In the Company's announcement of 29 June 2026, Fiinu reported a £7.3 million non-cash goodwill impairment relating to its acquisition of Everfex, with the Everfex goodwill being fully impaired as at 31 December 2025;  these filings do not result in any further impairment of that goodwill.

Further announcements will be made as appropriate.

The Directors of the Company are responsible for the release of this announcement.

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For further information, please contact:

Fiinu Plc Dr. Marko Sjoblom - CEO	Tel: [phone]
SPARK Advisory Partners Limited (Nomad) Mark Brady / Angus Campbell	Tel: [phone] Email: [e-mail]
Marex Financial (Joint Broker) Angelo Sofocleous / Matt Bailey	Tel: [phone] Email: [e-mail]
Oberon Investment Limited (Joint Broker) Nick Lovering / Adam Pollock / Mike Seabrook	Tel: [phone]
Brazil (Financial PR) Joshua van Raalte / Christine Webb	Tel: [phone]

About Fiinu

Fiinu Plc ("Fiinu"), founded in 2017, is a publicly traded (LSE: BANK) fintech Group, admitted to trading on the AIM Market of the London Stock Exchange, that has developed the world's first Bank Independent Overdraft® platform. The platform, offered as a white labelled solution to banks, allows lenders to offer Fiinu's flagship product, Plugin Overdraft® to retail consumers. Plugin Overdraft® is an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank.

For more information, please visit www.fiinuplc.com

 

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