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Teathers Financial (TEA)

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Friday 03 June, 2016

Teathers Financial

Heads of Terms Agreement for £1 million Investment

RNS Number : 2314A
Teathers Financial PLC
03 June 2016
 

 

3 June 2016

 

Teathers Financial Plc

("Teathers" or the "Company")

 

Heads of Terms Agreement for £1 million Investment

 

Further to the announcement made by the Company on 25 May 2016, the Board is pleased to announce that Teathers has now signed a definitive, non-binding, Heads of Terms agreement with an individual investor, which will substantially recapitalise the existing business and enable Teathers to accelerate its planned expansion programme.

 

As previously announced, the implementation of this proposed £1m investment into the Company (the "Proposed Investment"), will specifically enable the Company to fund further development of the Teathers app as an unquoted company, with a view to seeking a listing as soon as practically possible in the future.

 

Further information regarding the Proposed Investment and the Heads of Terms will be provided as part of the notice which will be sent to shareholders in respect of the General Meeting which has been requisitioned by certain shareholders, as announced on 25 May 2016.

 

 

**ENDS**

 

 

For further information please contact:

 

Jason Drummond

Teathers Financial Plc

 

+44 203 021 3466

Charlotte Heap / Elisabeth Cowell

St Brides Partners Limited

 

+44 20 7236 1177

 

 


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