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(“TechFinancials” or the “Company”)
Completion of the establishment of Joint Venture
Further to the announcements on 21 October 2015 and 19 November 2015, TechFinancials has completed the formation of a Joint Venture (“JV”) with the owners of Optionfortune Trade Limited, a company registered in Hong Kong (“the Partner”) to run a B2C binary options trading platform focused on the Asia Pacific region.
The Partner has now transferred its trading platform activity and all other intangible assets related to its operation to the JV.
– Ends –
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|
Notes to editors:
TechFinancials was formed in 2009 to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options. TechFinancials’ platform is based on a proprietary pricing engine, which enables online brokers to price and market short-term Binary Options and Exotic Options. In 2014, around 18% of all deposits which are made to trade Binary Options globally were processed using TechFinancials’ software.
In early 2014, TechFinancials began to focus on the Asian market, securing distribution in Japan and China. The Joint Venture with the owners of Optionfortune marks the first significant development for the Company in its expansion into the Asia Pacific region since its admission to AIM, and is a major part of the Company’s strategy to penetrate markets with significant high growth potential.