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Thursday 19 January, 2017

Teathers App

Fully subscribed debut Live Market Bookbuild

RNS Number : 6660U
Teathers App
19 January 2017
 

19 January 2016

 

Teathers Financial plc

("Teathers" or the "Company")

 

Fully subscribed debut Live Market Bookbuild

 

The Teathers App, the unique mobile app designed to give private investors access to placements, is pleased to announce the successful completion of its first Live Market Bookbuild with Regency Mines Plc (AIM:RGM). Regency Mines raised £50,000 in a fully subscribed Live Market Bookbuild. This was the first deal of its kind ever attempted in the UK.

Regency Mines' Live Market Bookbuild

Regency Mines announced the Live Market Bookbuild at 11.33am on Wednesday 18 January. The Live Market Bookbuild opened at 12pm that day and ran until 4pm today, Thursday 19 January. The Live Market Bookbuild was only available to onboarded users of the Teathers App.   

A number of new users onboarded during the Live Market Book and participated in the fundraise,.

Regency Mines' goal was to raise £50,000. It successfully achieved this and the Live Market Bookbuild was fully subscribed.

Live Market Bookbuilds

Live Market Bookbuilds operate very simply.

Prior to launching a Live Market Bookbuild a company raising money issues a market announcement that it plans to offer a Live Market Bookbuild through the Teathers App. This announcement contains:

·    Details of the maximum number of shares on offer

·    Details of the terms of the deal, including price

·    Details of any associated financial incentives e.g. warrants

·    Timescale for the Live Market Bookbuild, including start date and time and closing date and time

Only onboarded users of the Teathers App are able to participate in Live Market Bookbuilds.

Becoming an onboarded user of the Teathers App

The Teathers App is available for free download for iOS smartphone devices from the iTunes App Store (https://itunes.apple.com/gb/app/teathers/id973433084).   New users can on-board from within the App. 

Shard Capital is the broker supporting the Teathers App. By completing the onboarding process, users of the Teathers App set up an execution only brokerage account with Shard Capital. Shard Capital is regulated by the FCA.

Becoming an onboarded user of the Teathers App is simple. Only onboarded users can participate in deals offered through the Teathers App. To become an onboarded user of the Teathers App, download the App from the App Store and complete the account application process.

A version of the Teathers App will be released to Google Play in Q1 2017.

 

Ben Turney, Chief Executive Office of Teathers, commented:

"I am delighted to announce the successful completion of our debut Live Market Bookbuild with Regency Mines. I am especially pleased to report this first Live Market Bookbuild was fully subscribed, reflecting confidence in the Teathers App and appetite among private investors for these types of deals.

I would like to thank Regency Mines for having the courage and vision in being the first company to trial this innovative fundraising model. Our goal at Teathers is to help level the playing field for private investors. Today Regency Mines has given its existing shareholders the opportunity to participate in a post-placement fundraising, on the same terms as placement participants. This has been both transparent and fair.

Companies on AIM now have a clear choice to make in future whether or not to offer existing shareholders similar opportunities when they come to raise funds."

 

 

Teathers App

W: www.teathersapp.com

Twitter: @teathersapp

 

Teathers Financial Plc

 

Ben Turney

E: [email protected]

T: +46 (0) 7697 406 06

CEO | Teathers Financial PLC

83 Ducie Street, Manchester M1 2JQ

 

 

About the Teathers App

The Teathers App is a unique mobile app, designed to give all private investors access to placements & Initial Public Offerings (IPOs), predominantly on the London Stock Exchange's Alternative Investment Market (AIM). There are currently 993 companies listed on AIM. During the course of 2016 these companies have so far raised £3.27 billion in secondary fundraisings (placements) (DATA: AIM Statistics to end Nov. 2016). 

The Teathers App is an execution only platform. When an AIM-listed company raises money, "onboarded" users of the Teathers App have the opportunity to participate in the placement on the same terms as other insiders. An "onboarded" user of the Teathers App is one who has already opened a brokerage account with Shard Capital. Shard Capital is the broker supporting the re-launch of the Teathers App and provides the necessary environment, including compliance oversight and client identification. Shard Capital is regulated by the FCA. 

The Teathers App is currently available in the App Store.  A version of the Teathers App will be released in Google Play in Q1 2017.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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