TEA Teathers Fin

TIDMTEA

RNS Number : 0188R

Teathers Financial PLC

23 June 2015

23 June 2015

Teathers Financial Plc

("Teathers" or the "Company")

Disposal of remaining investment in Jubilee Platinum Plc ("Jubilee")

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 further to the Company's announcement on 17 June 2015 entitled "Part disposal of investment in Jubilee Platinum Plc" it has today disposed of its remaining investment in Jubilee amounting to a holding of 750,000 ordinary shares of 1p each in the issued share capital of Jubilee for GBP19,125 (before commissions and charges of GBP217.25) in cash, realising a net profit of GBP6,907.75 on this sale.

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).

Teathers intends to use the proceeds of the disposal of its remaining investment in Jubilee for general working capital purposes to further its Investing Policy.

For further information please contact:

 
 Teathers Financial Plc 
 Jason Drummond, Executive Chairman              Tel: 0207 148 3008 
 
   Beaumont Cornish (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

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