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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 1,120,000 TechFinancials’ ordinary shares of US$0.0005 (“Ordinary Shares”) to employees, directors and consultants to the Company at an exercise price of US$0.0915 (approximately 7 pence) per Ordinary Share. The Options have an exercise period of ten years from grant date and vesting of the Options is conditional, inter alia, on continued employment with the TechFinancials group.
Options were granted to the following directors:
|Name||Number of options granted||Resultant holding of options|
The grant of the Options is designed to align the interests of directors, senior managers and key employees and consultants to the group with those of shareholders and to promote the retention of such individuals.
Following this grant of Options, the total number of options now granted over Ordinary Shares under the Company’s 2014 Option Scheme is 2,437,482 (of which 484,142 have been exercised) and the total number of options and warrants in issue including 700,000 options under the Company’s 2013 option scheme and 215,629 broker warrants issued on admission to AIM is therefore 2,868,969, representing 3.95 per cent of the total number of Ordinary Shares in issue. Following this grant of Options, the total number of options under the Company’s 2014 Option Scheme available to be granted is 23,498.
– 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|
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.