TechFinancials Inc.
(“TechFinancials” or the “Company”)
Final dividend pay-out by Company’s subsidiary DragonFinancials
TechFinancials expected to receive an additional US$1,530,000
TechFinancials Inc. (AIM: TECH), a leading technology provider to financial trading brokers, is pleased to announce a final dividend pay-out by its subsidiary, DragonFinancials, the B2C trading platform focused on the Asia Pacific region.
The board of directors of DragonFinancials have declared a final dividend pay-out of US$3,000,000, payable by 15 March 2017, in respect of the year ended 31 December 2016. Out of the total pay-out amount the Company is expected to receive US$1,530,000 in line with its 51% holding in the subsidiary.
This follows the Company’s announcement on 28 November 2016 that DragonFinancials declared an interim dividend pay-out of US$2,000,000, of which TechFinancials received US$1,020,000.
Commenting Asaf Lahav, CEO of TechFinancials said:
“We are delighted by the final dividend payout by DragonFinancials which takes the full dividend payout for FY2016 received by TechFinancials to $2,550,000. This underlines that performance in the Group’s B2C division focused on the Asia Pacific region was solid in 2016. We remain focused on ensuring this division continues to perform well in 2017.”
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 |
Media enquiries:
| Yellow Jersey PR Limited (Media Relations) | Tel: +44 (0) 7748 843 871 |
| Charles Goodwin / Felicity Winkles |
About TechFinancials
TechFinancials plc (AIM: TECH) is a leading innovator and supplier of financial trading solutions for retail clients. The Group operates a B2B division licensing white label software solutions to online brokers. In addition, the Company operates a B2C division operating trading platforms worldwide and incorporating a strategic joint venture focusing on solutions for traders in the Asia Pacific region.
Further information can be found at http://techfinancials.com.