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(“TechFinancials” or the “Company”)
Issue of Equity
TechFinancials Inc. (AIM: TECH), a leading technology provider to financial trading brokers, announces that a former employee of TechFinancials has undertaken a cashless exercise of 79,845 options pursuant to the 2014 employee share option plan, to acquire 45,329 ordinary shares of US$0.0005 (“Ordinary Shares”) in the Company in consideration for the cancellation of the balance of 34,516 options. Additionally, this individual has 1,290 remaining options over Ordinary Shares exercisable at a price of $0.189 per share that will expire on 30 November 2016.
Application is being made for the admission of 45,329 Ordinary Shares to trading on AIM (“Admission”), which is expected to occur on or around 14 November 2016.
Following the Admission, the Company will have 68,673,551 Ordinary Shares in issue with voting rights. The above figure of 68,673,551 may be used by shareholders in the Company as the denominator for the calculations 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 and Transparency Rules. The Company does not hold any shares in Treasury (1).
(1) As reported in the announcement of 8 June 2016, the Company has in issue 3,868,615 Ordinary Shares in the name of Capita Trust Company Limited A/c 25379 which are held in escrow pending the determination of the 2016 results in respect of its future contingent payment to joint venture partner, Optionfortune Trade Limited. For accounting purposes these are classified as shares held in Treasury, but are excluded in respect of the Disclosure and Transparency Rules from shares with voting rights and from shares held in Treasury.
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|
Further information can be found at http://techfinancials.com.