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Teathers Financial (TEA)

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Thursday 28 May, 2015

Teathers Financial

New Investment

RNS Number : 4335O
Teathers Financial PLC
28 May 2015
 

 

28 May 2015

 

Teathers Financial Plc

("Teathers" or the "Company")

New Investment

                     

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 it made the following investment on 27 May 2015 in accordance with its Investing Policy:

Investment of £20,000 in cash in Jubilee Platinum Plc ("Jubilee")

Teathers has purchased 1,250,000 ordinary shares of 1p each in the issued share capital of Jubilee (representing approximately 0.17 per cent. of the enlarged issued share capital of Jubilee) at a price of 1.6p per share.

 

AIM traded and AltX listed Jubilee is a mining exploration to metal development company with a focus on platinum group elements and nickel. Through recent acquisitions, Jubilee has added platinum group elements and ferro-alloy smelting and refining to its capability.

 

Further information on Jubilee can be found on its website at www.jubileeplatinum.com.

The audited accounts of Jubilee for the year ended 30 June 2014 show a loss before tax of £5,567,000 (30 June 2013: loss before tax of £7,326,000) on revenues of £4,044,000 (30 June 2013: £4,751,000). As at 30 June 2014 Jubilee had audited net assets of £54,116,000 (30 June 2013: £62,810,000). The unaudited interim accounts of Jubilee for the six month period ended 31 December 2014 show a loss before tax of £1,019,000 (31 December 2013: loss before tax of £1,538,000) on revenues of £2,761,000 (31 December 2013: £2,264,000). As 31 December 2014 Jubilee had unaudited net assets of £53,530,000 (31 December 2013: £55,915,000).

Jason Drummond, Executive Chairman of Teathers, commented: "We are delighted to make another investment and look forward to providing further updates to Shareholders in due course.  We believe that our investment in Jubilee highlights our growing relationships with brokers which we believe is our competitive edge when sourcing investments."

 

 

 

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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