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FLEXIROAM LIMITED — Capital/Financing Update 2021
Mar 3, 2021
64947_rns_2021-03-03_7992161e-ddd5-4429-a46f-5b7a28fd1632.pdf
Capital/Financing Update
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4 MARCH 2021
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FLEXIROAM PARTNERS WITH SPLIT TO OFFER BNPL TO MALAYSIAN AND SINGAPOREAN MOBILE USERS - CLARIFICATION
Flexiroam Limited (ASX: FRX ) ( Flexiroam or the Company ) refers to its announcement dated 3 March 2021 in relation to an agreement with Split, a leading Singapore and Malaysia-based FinTech company offering buy-now-pay-later ( BNPL ) solutions ( Agreement ).
Under the Agreement, Split will be offered as a Flexiroam Wallet payment option to purchase Flexiroam products, with customers being able to make payments in up to three interest-free instalments. Split will earn a transaction fee on each sale generated via its payment portal.
The Agreement is for an initial 18-month term unless either party gives at least 30 days’ notice to terminate prior to the expiry of the current term. The Agreement otherwise contains terms and conditions which are customary for an agreement of this nature.
At present, the economic impact of the Agreement with Split is unknown due to the variable nature of the transaction fee that is dependent on customer usage. Flexiroam, however, expects that partnering with Split may have a material impact on Flexiroam’s growth prospects.
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AUTHORISED BY THE BOARD OF DIRECTORS
Corporate Inquiries Investor Inquiries Jef Ong, Chief Executive Officer Market Eye Telephone: +61 2 8188 3919 Justin Foord Email: [email protected] Telephone: +61 2 8097 1200 Email: [email protected]
ABOUT FLEXIROAM
FLEXIROAM LIMITED (ASX: FRX) is a super connector providing vital links between touchpoints and information repositories. By leveraging on its global connectivity in more than 100 countries, Flexiroam brings together the lines of communication to facilitate information gathering. Its innovative technology can be used expansively by consumers requiring connectivity to stay in touch with people and enterprises seeking data links to enhance business processes. Flexiroam’s core capabilities are in research and development, scalable consumer app development, Big Data and Artificial Intelligence.
ABOUT SPLIT
Split is a Singapore and Malaysia-based omnichannel buy-now-pay-later (BNPL) fintech provider that allows businesses to offer their customers the choice of paying in up to 3 interest-free instalments without a credit card. Since April 2020, more than 300 brands offer Split to their customers including Dyson, Lorna Jane and LEGO. For more information, please visit https://paywithsplit.co
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