Information  X 
Enter a valid email address

Teathers Financial (TEA)

  Print      Mail a friend

Thursday 28 May, 2015

Teathers Financial

Disposal of Investment

RNS Number : 4339O
Teathers Financial PLC
28 May 2015
 

 

28 May 2015

 

Teathers Financial Plc

("Teathers" or the "Company")

 

Disposal of investment in Advanced Oncotherapy plc

 

Teathers, the AIM quoted Investing Company with an Investing Policy to invest in AIM quoted companies either on flotation, through secondary offerings or by purchasing shares in the market and unquoted companies, joint ventures or projects which the Board believes will be seeking a quotation on AIM within 12 to 18 months of such investment, is pleased to announce that on 27 May 2015 it  disposed of its entire investment in Advanced Oncotherapy plc  ("AVO") of 625,000 ordinary shares of 1p each, which was made on 1 May 2015, for £56,250 (before commissions and charges of £563) in cash, realising an 11.4 per cent. net profit (£5,687) on its original investment.

 

AVO is a specialist developer and provider of the next generation of particle therapy systems for cancer treatment that makes radiation less toxic for patients. The audited accounts of AVO for the year ended 31 December 2013 show net losses of £3,970,496 on revenue of £68,916 and net assets of £5,365,327. Further details on AVO can be found on its website at http://www.advancedoncotherapy.com

 

Teathers intends to use the proceeds of the disposal of its investment in AVO for general working capital purposes to further its Investing Policy.

 

Jason Drummond, Chairman commented: "Teathers is pleased to have now made and sold another investment at a profit on the original investment and looks forward to updating Shareholders on further activity in due course."

 

For further information please contact:

 

Teathers Financial Plc


Jason Drummond, Executive Chairman

Tel: 0207 148 3008

 

Beaumont Cornish (Nominated Adviser & Joint Broker)


Roland Cornish / Emily Staples

Tel: 0207 628 3396



Peterhouse Corporate Finance (Joint Broker)


Lucy Williams / Duncan Vasey 

 

Tel: 020 7469 0936

 

 

 


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

a d v e r t i s e m e n t