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(“TechFinancials” or the “Company”)
Transfer of the shares held in Escrow to the owners of Optionfortune Trade Limited (“Optionfortune”)
TechFinancials Inc. (AIM: TECH), a leading technology provider to financial trading brokers, is pleased to announce the completion of the transfer of 3,868,615 ordinary shares of US$0.0005 (“Ordinary Shares”) to the owners of its joint venture partner, Optionfortune.
As announced on 8 June 2016, the shares were held on deposit with a third party escrow company, pending determination of the 2016 results of the joint venture company. As the joint venture has exceeded its target of net profit US$2 million, the shares will be transferred to the owners of Optionfortune in full.
Application has been made for the 3,868,615 Ordinary Shares, 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 31 March 2017 (“Admission”).
Total Voting Rights
Following Admission, the issued share capital of the Company will comprise 72,542,166 Ordinary Shares with voting rights attached (one vote per share). The Company does not hold any shares in treasury. This figure of 72,542,166 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.
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
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.