Issue of Equity

TechFinancials, Inc.

(“TechFinancials, the “Company” or the “Group”)

Issue of Equity

Further to its announcement of 26 April 2018, TechFinancials (AIM: TECH), a leading technology provider to financial trading brokers, today is pleased to announce that the Company has issued 12,406,352 shares of US$0.0005 (“Ordinary Shares”) of TechFinancials, at a price of £0.27 per share to the OptionFortune Shareholders, in lieu of payment of US$4,527,927. The closing price of the Ordinary Shares on 10 May 2018 was £0.165 per share.

Under the to the JV Agreement, the Company is required to issue shares or make cash payments to the OptionFortune Shareholders, depending on the financial results of the JV business, DragonFinancials for the year 2017. Based on the audited financial statements of DragonFinancials for the year 2017, DragonFinancials achieved financial results requiring the Company to pay US$4,527,927 as consideration to the OptionFortune Shareholders.

Application has been made for the 12,406,352 Ordinary Shares, comprising 9,304,764 shares issued to Mr. Shen Chaohui, 1,860,953 shares issued to Mr. Ma Liangliang and 1,240,635 shares issued to Mr. Ke Endian which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading on the AIM Market of the London Stock Exchange (“AIM”). Dealings on AIM are expected to commence at 8:00 a.m. on or around 17 May 2018 (“Admission”).

Total Voting Rights

Following Admission, the issued share capital of the Company will comprise 84,980,979 Ordinary Shares with voting rights attached (one vote per share). The Company does not hold any shares in treasury. This figure of 84,980,979 may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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, 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 joint venture focusing on solutions for traders in the Asia Pacific region.

The Company currently holds a 2 per cent interest and an option to acquire a further 90 per cent in Cedex Holdings Ltd (“CEDEX”), a blockchain-based on-line exchange for diamonds, which would give TechFinancials up to 92 per cent of CEDEX or 87.4 per cent on a fully diluted basis.

Further information can be found at http://techfinancials.com.