TruFin (AIM:TRU), the AIM-listed platform business acquirer, is returning £80 million to shareholders by way of a tender offer and accompanying dividend, funded from proceeds of the recently completed disposal of its Playstack gaming subsidiary.
The company completed the sale of Playstack to VantageCo on 10 June, receiving net cash proceeds of £112.4 million, against a £1.5 million holdback relating to potential tax liabilities.
After the £80 million return, payment of long-term incentive plan awards of £7.9 million, and employer's national insurance contributions, TruFin expects to retain approximately £24 million in unrestricted cash, which the board intends to deploy within twelve months.
The continuing group holds an approximately 85% stake in Oxygen Finance and an approximately 80% interest in Satago Financial Solutions, and is expected to remain loss-making for full-year 2026, targeting profitability in 2027.
TruFin's stated strategy post-return is to acquire one new platform business per year alongside at least one bolt-on acquisition within each existing platform, targeting businesses with EBITDA margins above 40% and internal rates of return above 20%.
