(“TechFinancials, Inc.” or “the Company”)
Dividend pay-out by Company subsidiary, DragonFinancials
TechFinancials to receive US$867,000
TechFinancials (AIM: TECH) (the “Company” or the “Group”), a fintech software provider of financial solutions including blockchain-based digital assets and traditional financial trading solutions for retail clients, announces that DragonFinancials, the Company’s 51% owned subsidiary and operator of its B2C trading platform focused on the Asia Pacific Region, has declared a final dividend pay-out of US$1,700,000, payable by 9 December 2018, in respect of 2017. This dividend is in addition to the two dividends declared by DragonFinancials in 2017 amounting to US$4,200,000, of which TechFinancials received US$ 2,142,000.
Out of the total final dividend payout of US$1,700,000, TechFinancials is expected to receive US$867,000 in line with its 51% holding in the subsidiary.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information:
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 / Katie Bairsto
TechFinancials, Inc (AIM: TECH) is a fintech software provider of financial trading solutions, including blockchain-based digital assets and traditional financial trading solutions for retail clients. The Group operates a B2B division licensing white label trading platform solutions to online brokers. In addition, the Company operates a B2C division operating trading platform incorporating a strategic venture focusing on solutions for traders in the Asia Pacific region.
The Company currently holds a 2 % interest and an option to acquire a further 90 % in CEDEX, a blockchain-based on-line exchange for diamonds, which would give TechFinancials up to 92 % of CEDEX or 87.4 % on a fully diluted basis.
Further information can be found at http://techfinancials.com.