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Teathers Financial (TEA)

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Friday 27 March, 2015

Teathers Financial

Issue of Equity

RNS Number : 6308I
Teathers Financial PLC
27 March 2015
 

 

27 March 2015

 

Teathers Financial Plc

("Teathers" or the "Company")

Subscription for Shares

 

Teathers is pleased to announce that on 26 March 2015 the Company raised £500,000 before expenses of £30,000, by way of an institutional subscription of 12,500,000 new Ordinary Shares of 0.5p each in the Company ("Ordinary Shares") ("the Subscription Shares") at a subscription price of 4 pence per share ("Subscription"). The Subscription is conditional only upon admission of the Subscription Shares to trading on AIM and has been carried out within the Company's existing share authorities. Furthermore, each Subscription Share carries one warrant which entitles the holder to subscribe for one new ordinary share in the Company up to 2 April 2016, at a price of 6 pence per share. 

 

The Company intends to use the proceeds of the Subscription to further its Investing Policy and for general working capital purposes.

 

The Subscription Shares will rank pari passu with the existing Ordinary Shares and application has been made for the Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8.00 a.m. on 2 April 2015.

 

Following Admission of the Subscription Shares, the Company's issued share capital will consist of 56,575,143 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. This number 56,575,143 may be used by shareholders, following the Subscription, as the denominator for the calculations by which they will determine if they are required tonotify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

 

For further information please contact:

 

Teathers Financial Plc


Jason Drummond, Executive Chairman

Tel: 0207 148 3008

 

Beaumont Cornish Limited (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
 
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