TechFinancials Inc. Transfer of shares held in Escrow to Optionfortune (6470A)
March 27 2017 - 10:00AM
UK Regulatory
TIDMTECH
RNS Number : 6470A
TechFinancials Inc.
27 March 2017
27 March 2017
TechFinancials Inc.
("TechFinancials" or the "Company" or the "Group")
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.
Asaf Lahav, Group Chief Executive
Officer
Yuval Tovias, Chief Financial www.group.techfinancials.com
Officer
Jeremy Lange, Chief Operations
Officer / Investor Relations
Grant Thornton UK LLP (Nominated
Adviser)
Colin Aaronson / Samantha Harrison Tel: +44 (0) 20
/ Carolyn Sansom 7383 5100
Northland Capital Partners Limited
(Broker)
Patrick Claridge / David Hignell Tel: +44 (0) 20
/ John Howes 3861 6625
Peterhouse Corporate Finance
(Joint Broker)
Lucy Williams / Eran Zucker Tel: +44 (0) 20
7469 0932
Yellow Jersey PR Limited (Media Tel: +44 (0)
Relations) 7825 916 715
Felicity Winkles / Alistair de
Kare-Silver
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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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