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(“TechFinancials” or the “Company”)
Grant of Options
TechFinancials (AIM: TECH), a software developer that supplies simplified trading solutions to online brokers, announces that under the terms of the Company’s 2014 Employee Share Incentive Plan and on the recommendation of the Remuneration Committee, the Board yesterday granted options (“Options”) over 569,800 TechFinancials’ ordinary shares US$0.0005 (“Ordinary Shares”) to employees of the Company and its subsidiaries at an exercise price of $0.189 (13 pence) per Ordinary Share. The Options have an exercise period of ten years and vesting of the Options are conditional, inter alia, on continued employment with the group.
The grant of the Options is designed to align the interests of senior managers and key employees of the group with those of shareholders and to promote the retention of those individuals.
Following this grant of Options, the total number of options now outstanding over Ordinary Shares is 2,411,280, representing 3.51 per cent. of the total number of Ordinary Shares in issue. None of the TechFinancials directors hold any of these options. The total number of options and warrants is 2,626,909 representing 3.83 per cent of the total number of Ordinary Shares in issue.
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For further information:
|TechFinancials, Inc.||Tel: +972 54 5233 943|
|Asaf Lahav, Group Chief Executive Officer|
|Yuval Tovias, Chief Financial Officer|
|Grant Thornton UK LLP (Nominated Adviser)||Tel: +44 (0) 20 7383 5100|
|Colin Aaronson / Samantha Harrison / Seamus Fricker|
|Northland Capital Partners Limited (Broker)||Tel: +44 (0) 20 3861 6625|
|David Hignell / Rob Rees|
|NEX Corporate Adviser and Joint Broker Peterhouse Corporate Finance||Tel: +44 (0) 20 7469 0930|
|Fungai Ndoro / Eran Zucker|
|Yellow Jersey PR Limited (Media Relations)||Tel: +44 (0) 7748 843 871|
|Charles Goodwin / Felicity Winkles|
TechFinancials plc (AIM: TECH) is a leading proprietary software solutions company for online brokers delivering services for retail traders in binary options and other instruments. The Group operates a B2B division which provides software solutions for binary options brokers. TechFinancials also operates a B2C division in which it has a partnership in place with Optionfortune, a B2C binary options trading platform registered in Hong Kong and an agreement with IBID, a company specialising in developing high growth online solutions, to grow one of the Company’s existing B2C binary options trading brands.
TechFinancials listed on AIM in March 2015 to facilitate its expansion in the fast growing global binary options market which is expected to increase to c. $20bn in trade volume by 2016, double that of 2014 at c. $10bn (FinanceMagnates). A major part of the Group’s strategy is to increase its share in existing markets and to penetrate emerging and regulated markets with high growth potential. As part of this, the Company recently announced the opening of a Hong Kong office to focus on the Asia Pacific region and signed an agreement with Optionfortune, to run a new B2C binary options trading platform, which also provides TechFinancials with exposure to this region.
Further information can be found at http://techfinancials.com.