TIDMTEA

RNS Number : 2305C

Teathers Financial PLC

14 October 2015

Teathers Financial Plc / Index: AIM / Epic: TEA / Sector: Investment

14 October 2015

Teathers Financial Plc ('Teathers' or 'the Company')

Investment in Innovative Crowd Equity App Investee Company and Board Change

Teathers Financial PLC ('Teathers' or the 'Company'), the AIM listed investment company, is pleased to announce that, in accordance with its investing policy, it has invested GBP150,000 in its subsidiary, Teathers Financial Software Limited ('TFSL') which recently launched the 'The Teathers App' (the 'App'), a new crowdfunding app which transforms the way private investors deal in listed companies through the use of mobile technology, offering dealing facilities, ongoing investment monitoring and news functionality. The Teathers' board has also agreed to make available a further GBP350,000, subject to TFSL achieving certain milestones. The investment will be satisfied by the issue of shares, following which the Company will continue to own 100% of TFSL for the time being. As an early-stage technology company, TFSL is not presently profitable.

TFSL is responsible for operating the Teathers App with an independent management team focusing on developing and commercialising the App initially in the UK and EU, with additional roll-out potential identified both globally and by white-labelling to further brokers. In order to focus on the development of TFSL and the Teathers app, as Managing Director of TFSL, Oliver Fattal, currently an Executive Director, will become a Non-Executive Director of the Company. Jason Drummond and Nilesh Jagatia both Executive Directors of Teathers, will continue to focus on the Company and its strategic investing activities in line with the Company's objective of building a portfolio of revenue generative of investments.

Teathers Executive Chairman Jason Drummond said, "By revolutionising the way in which private investors and fund raisers can deal in listed companies, the innovative Teathers App has the potential to not only transform the crowd equity arena but also create substantial value for Teathers. We have been delighted with the response TFSL has received since launching the App a few weeks ago and our focus remains centred on building on the value of our investment in TFSL in line with our strategy of building a value generative portfolio of assets. We look forward to updating shareholders on our progress as TFSL continues to develop and commercialise the App, with a focus initially in the UK and EU, but wider global roll-out potential also identified."

* * ENDS * *

For further information please visit www.teathers.com or contact:

 
                                                               +44 203 021 
 Jason Drummond                Teathers Financial Plc           3466 
                               Teathers Financial Software     +44 207 148 
 Oliver Fattal                  Limited                         0592 
 Colin Aaronson / Jamie        Grant Thornton UK LLP           +44 20 7383 
  Barklem                       (Nominated Adviser)             5100 
 Lucy Williams / Duncan        Peterhouse Corporate Finance    +44 20 7469 
  Vasey                         (Broker)                        0936 
 Charlotte Heap / Elisabeth                                    +44 20 7236 
  Cowell                       St Brides Partners Limited       1177

Notes:

Teathers Financial PLC is focused primarily on the investment in AIM or unquoted companies, joint ventures or individual projects. The Company is led by highly experienced individuals with proven track records in the growth company arena. It considers all sectors but is looking for stand out companies, which it believes it can also add value to.

Amongst other investments, the Company has a 100% interest in Teathers Financial Software Ltd, which is looking to revolutionise the crowd equity arena for listed companies and empower private investors. In essence it has developed proprietary technology to provide brokers and fundraisers with a secure, seamless and innovative platform to connect, offer and manage private investors in Placings and IPOs, crucially on the same terms as institutional investors. The software, which runs across all major mobile platforms, also encourages ongoing user engagement by providing a real-time gateway for private investors and continual information on their portfolios. FCA regulated Shard Capital have adopted the technology for the Teathers App to drive private investors to their fundraising initiatives. The technology is available to be white-labelled to brokers and fundraisers who want to engage further with private individuals who potentially represent a supportive pool of capital.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAGMMMGLDVGKZG

(END) Dow Jones Newswires

October 14, 2015 05:52 ET (09:52 GMT)

Springfield Properties (LSE:SPR)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Springfield Properties Charts.
Springfield Properties (LSE:SPR)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Springfield Properties Charts.