Share Purchase Agreement with Cedex Holdings Limited

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

Share Purchase Agreement with Cedex Holdings Limited

TechFinancials (AIM: TECH), a leading technology provider to financial trading brokers, today announces that it has entered into a legally binding Share Purchase Agreement (the “SPA”) with Cedex Holdings Limited, a company incorporated under the laws of Gibraltar (“CEDEX”). CEDEX is the company envisaged to be formed in the Company’s announcement of 23 October 2017.

Under the SPA, TechFinancials will make an equity investment of US$200,000 at a post-money valuation of US$10,000,000, representing 2 per cent of CEDEX’s current capital on a fully diluted basis, taking into account the exercise of the option mentioned below.

As at the date of this announcement, TechFinancials holds an option to acquire a further 90 per cent of CEDEX at an exercise price of US$40,000 with an expiry date of three years from the date of grant (i.e. 22 October 2017), giving it a potential maximum holding of 92%.

It should be noted that TechFinancials’ shareholding upon exercise of the option will be subject to future dilution in the event that CEDEX should issue further shares or options after today.

Commenting on the Share Purchase Agreement, Asaf Lahav, CEO, said“Following the dividend pay-out announcement on 21 December 2017, we continue to focus our attention on supporting the most profitable parts of our business and in developing new products and technologies, in particular, the new, rapidly growing blockchain-based products and technologies market, to accelerate our efforts in building presence in these new areas.”

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 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 trading platform 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.