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Teathers Financial (TEA)

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Thursday 10 December, 2015

Teathers Financial

Disposal of Investments

RNS Number : 6520I
Teathers Financial PLC
10 December 2015
 

 

10 December 2015

 

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

Disposal of Investment in Challenger Acquisitions Limited

 

Teathers Financial plc, the AIM quoted Investing Company, is pleased to announce that it made the following disposal on 8 December 2015.

 

The Company has sold 142,858 ordinary shares of 10p each in the issued share capital of Challenger Acquisitions Limited, ('Challenger') at an average price of 50.3p per shares for £71,880.43 (before commissions and charges of £744.18) in cash, realising a net profit of £21,135.  This represents a 42.3% increase on the Company's original investment.

 

Jason Drummond, Executive Chairman of Teathers commented: "This has been a highly profitable investment for Teathers thanks to the strong performance of giant observation wheel developer Challenger following the re-admission of its shares to trading this week.  We wish them well in the future and are pleased to report this strong performance in line with our strategy to deliver shareholder value through our investments."

 

**ENDS**

 

For further information please contact:

 

Teathers Financial Plc

Jason Drummond

+44 203 021 3466

Grant Thornton UK LLP

(Nominated Adviser)

Colin Aaronson / Jamie Barklem

+44 20 7383 5100

Peterhouse Corporate Finance

(Broker)

Lucy Williams / Duncan Vasey

+44 20 7469 0936

St Brides Partners Limited

Charlotte Heap / Elisabeth Cowell

+44 20 7236 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
 
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