RegTech Open Project PLC (LSE:RTOP) fell by 23% as it revealed there will be a delay in the receipt of US$1.5 million agreed in a loan agreement with RegTech Italy, a company owned by Alessandro Zamboni.
Zamboni has said that the contracts to enable the US$1.5m to be transferred via RegTech Italy to the company are in final form and that he expects them to be executed imminently.
“Execution of the contracts will immediately trigger the start of the payment transfers, first to RegTech Italy and then onwards to the company using the established mechanisms for international payments,”. added the statement.
Shares in RegTech Open Project dropped 1p to 3.25p.