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Teathers Financial (TEA)

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Wednesday 14 October, 2015

Teathers Financial

Investment in Equity App Company and Board Change

RNS Number : 2305C
Teathers Financial PLC
14 October 2015
 

Teathers Financial Plc / Index: AIM / Epic: TEA / Sector: Investment

 

14 October 2015

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

Investment in Innovative Crowd Equity App Investee Company and Board Change

 

Teathers Financial PLC ('Teathers' or the 'Company'), the AIM listed investment company, is pleased to announce that, in accordance with its investing policy, it has invested £150,000 in its subsidiary, Teathers Financial Software Limited ('TFSL') which recently launched the 'The Teathers App' (the 'App'), a new crowdfunding app which transforms the way private investors deal in listed companies through the use of mobile technology, offering dealing facilities, ongoing investment monitoring and news functionality.  The Teathers' board has also agreed to make available a further £350,000, subject to TFSL achieving certain milestones.  The investment will be satisfied by the issue of shares, following which the Company will continue to own 100% of TFSL for the time being.  As an early-stage technology company, TFSL is not presently profitable.

 

TFSL is responsible for operating the Teathers App with an independent management team focusing on developing and commercialising the App initially in the UK and EU, with additional roll-out potential identified both globally and by white-labelling to further brokers.  In order to focus on the development of TFSL and the Teathers app, as Managing Director of TFSL, Oliver Fattal, currently an Executive Director, will become a Non-Executive Director of the Company.  Jason Drummond and Nilesh Jagatia both Executive Directors of Teathers, will continue to focus on the Company and its strategic investing activities in line with the Company's objective of building a portfolio of revenue generative of investments.

 

Teathers Executive Chairman Jason Drummond said, "By revolutionising the way in which private investors and fund raisers can deal in listed companies, the innovative Teathers App has the potential to not only transform the crowd equity arena but also create substantial value for Teathers.  We have been delighted with the response TFSL has received since launching the App a few weeks ago and our focus remains centred on building on the value of our investment in TFSL in line with our strategy of building a value generative portfolio of assets.   We look forward to updating shareholders on our progress as TFSL continues to develop and commercialise the App, with a focus initially in the UK and EU, but wider global roll-out potential also identified."

 

* * ENDS * *

 

For further information please visit www.teathers.com or contact:

 

Jason Drummond

Teathers Financial Plc

 

+44 203 021 3466

Oliver Fattal

Teathers Financial Software Limited

+44 207 148 0592

 

Colin Aaronson / Jamie Barklem

Grant Thornton UK LLP

(Nominated Adviser)

 

+44 20 7383 5100

Lucy Williams / Duncan Vasey

Peterhouse Corporate Finance

(Broker)

 

+44 20 7469 0936

Charlotte Heap / Elisabeth Cowell

 

St Brides Partners Limited

+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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