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(“TechFinancials” or the “Company”)
Issue of shares
TechFinancials (AIM: TECH), a software developer that supplies simplified trading solutions to online brokers, announces that former employees of TechFinancials have undertaken a cashless exercise a of 647,789 options pursuant to the 2014 employee share option plan, to acquire 438,813 ordinary shares of US$0.0005 (“Ordinary Shares”) in the Company in consideration for the cancellation of the balance of 208,976 options. These individuals no longer have any options over Ordinary Shares. There remain 2,028,820 warrants and options exercisable at prices ranging from $0.083 to $0.416 per Ordinary Share. In addition, there are 700,000 2013 options exercisable at par value per Ordinary Share.
Application is being made for the admission of 438,813 Ordinary Shares to trading on AIM, with admission expected to take place on or around 11 November 2015. Following the admission of these shares, the Company will have 68,628,222 Ordinary Shares in issue. The Company has no shares in Treasury.
The above figure (68,628,222) may be used by shareholders 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 total voting rights of the Company.
– 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|
Notes to editors:
TechFinancials was formed in 2009 to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options. TechFinancials’ platform is based on a proprietary pricing engine, which enables online brokers to price and market short-term Binary Options and Exotic Options. In 2014, around 18% of all deposits which are made to trade Binary Options globally were processed using TechFinancials’ software. In early 2014, TechFinancials began to focus on the Asian market, securing distribution in Japan and China.