TEA Teathers Fin

TIDMTEA

RNS Number : 4335O

Teathers Financial PLC

28 May 2015

28 May 2015

Teathers Financial Plc

("Teathers" or the "Company")

New Investment

Teathers, the AIM quoted Investing Company with an Investing Policy to invest in AIM quoted companies either on flotation, through secondary offerings or by purchasing shares in the market and unquoted companies, joint ventures or projects which the Board believes will be seeking a quotation on AIM within 12 to 18 months of such investment, is pleased to announce that it made the following investment on 27 May 2015 in accordance with its Investing Policy:

Investment of GBP20,000 in cash in Jubilee Platinum Plc ("Jubilee")

Teathers has purchased 1,250,000 ordinary shares of 1p each in the issued share capital of Jubilee (representing approximately 0.17 per cent. of the enlarged issued share capital of Jubilee) at a price of 1.6p per share.

AIM traded and AltX listed Jubilee is a mining exploration to metal development company with a focus on platinum group elements and nickel. Through recent acquisitions, Jubilee has added platinum group elements and ferro-alloy smelting and refining to its capability.

Further information on Jubilee can be found on its website at www.jubileeplatinum.com.

The audited accounts of Jubilee for the year ended 30 June 2014 show a loss before tax of GBP5,567,000 (30 June 2013: loss before tax of GBP7,326,000) on revenues of GBP4,044,000 (30 June 2013: GBP4,751,000). As at 30 June 2014 Jubilee had audited net assets of GBP54,116,000 (30 June 2013: GBP62,810,000). The unaudited interim accounts of Jubilee for the six month period ended 31 December 2014 show a loss before tax of GBP1,019,000 (31 December 2013: loss before tax of GBP1,538,000) on revenues of GBP2,761,000 (31 December 2013: GBP2,264,000). As 31 December 2014 Jubilee had unaudited net assets of GBP53,530,000 (31 December 2013: GBP55,915,000).

Jason Drummond, Executive Chairman of Teathers, commented: "We are delighted to make another investment and look forward to providing further updates to Shareholders in due course. We believe that our investment in Jubilee highlights our growing relationships with brokers which we believe is our competitive edge when sourcing investments."

For further information please contact:

 
 Teathers Financial Plc 
 Jason Drummond, Executive Chairman      Tel: 0207 148 
                                          3008 
 
   Beaumont Cornish Limited (Nominated 
   Adviser & Joint Broker) 
 Roland Cornish / Emily Staples          Tel: 0207 628 
                                          3396 
 
 Peterhouse Corporate Finance (Joint 
  Broker) 
 Lucy Williams / Duncan Vasey            Tel: 020 7469 
                                          0936 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPKODKKBKBKPB

Teathers Fin (LSE:TEA)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025

Teathers Fin (LSE:TEA)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025