TIDMTEA

RNS Number : 5548V

Teathers Financial PLC

19 April 2016

Teathers Financial Plc / Index: AIM / Epic: TEA / Sector: Investment

19 April 2016

Teathers Financial Plc ('Teathers' or 'the Company')

Update

Following the announcement dated 5 February 2016 the Company would like to provide the following update to shareholders.

On 4 December 2015, the Company announced that as it had not implemented its investing policy within 12 months of becoming an investing company, its shares would be suspended from trading on AIM. The Company also stated that it was currently considering all of its options and will continue to work towards the implementation of its investing policy or completion of a reverse takeover. As announced on 5 February 2016, the board's view was that it was unlikely that the Company will be deemed to have implemented its investing policy through a portfolio of investments by 4 June 2016 and, in this regard, the views of the board have not changed.

Since 4 December 2015, the Company has sought to identify a potential reverse takeover target and has reviewed a number of opportunities. It is currently in discussions with a potential takeover target that the board believes offers synergies with Teathers Financial Software Limited ('TFSL'), the Teathers investee company that owns the Teathers app.

The board has also been in discussions with a potential investor who has indicated an interest in investing GBP1 million into the Company. This would enable the Company to fund further development of the Teathers app as an unquoted company, with a view to seeking a listing at a suitable time in the future. If concluded, it is likely that this will be by way of an equity investment that would require approval of shareholders.

In the event that the Company continues its growth strategy as an unquoted company, the Company intends to put in place an electronic off-market dealing facility for shareholders, which will allow shareholders to trade their shares on a matched bargain and arm's length basis.

A further announcement will be made as soon as the board has selected a way forward to put to shareholders.

* * ENDS * *

For further information please visit www.teathers.com or contact:

 
                        Teathers Financial      +44 203 
 Jason Drummond          Plc                     021 3466 
 Colin Aaronson         Grant Thornton UK 
  / Jamie Barklem        LLP                    +44 20 7383 
  / Carolyn Sansom       (Nominated Adviser)     5100 
                        Peterhouse Corporate 
 Lucy Williams /         Finance                +44 20 7469 
  Duncan Vasey           (Broker)                0936 
 Charlotte Heap         St Brides Partners      +44 20 7236 
  / Elisabeth Cowell     Limited                 1177

Notes:

Teathers Financial PLC is focused primarily on the investment in AIM or unquoted companies, joint ventures or individual projects. The Company is led by highly experienced individuals with proven track records in the growth company arena. It considers all sectors but is looking for stand out companies, which it believes it can also add value to.

Amongst other investments, the Company has a 100% interest in Teathers Financial Software Ltd, which is looking to revolutionise the crowd equity arena for listed companies and empower private investors. In essence it has developed proprietary technology to provide brokers and fundraisers with a secure, seamless and innovative platform to connect, offer and manage private investors in Placings and IPOs, crucially on the same terms as institutional investors. The software, which runs across all major mobile platforms, also encourages ongoing user engagement by providing a real-time gateway for private investors and continual information on their portfolios. FCA regulated Shard Capital have adopted the technology for the Teathers App to drive private investors to their fundraising initiatives. The technology is available to be white-labelled to brokers and fundraisers who want to engage further with private individuals who potentially represent a supportive pool of capital.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFVESVITLIR

(END) Dow Jones Newswires

April 19, 2016 02:00 ET (06:00 GMT)

Teathers Fin (LSE:TEA)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025 Haga Click aquí para más Gráficas Teathers Fin.
Teathers Fin (LSE:TEA)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025 Haga Click aquí para más Gráficas Teathers Fin.