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Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Teathers Financial (TEA)

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Thursday 07 May, 2015

Teathers Financial

New Investments

RNS Number : 4880M
Teathers Financial PLC
07 May 2015


7 May 2015


Teathers Financial Plc

("Teathers" or the "Company")

New Investments


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 two investments on Friday 1 May 2015 in accordance with its Investing Policy:

Investment of £50,000 in Advanced Oncotherapy plc ("AVO") (AIM: AVO)

Teathers invested £50,000 in cash in consideration for 625,000 ordinary shares of 1 pence each in the issued share capital of AVO (representing approximately 0.05 per cent. of the enlarged issued share capital of AVO). It is expected that AVO's new ordinary shares on this placing will commence trading on AIM on or around 8th May 2015.

AVO, the developer of next-generation proton therapy systems for cancer treatment has raised approximately £20 million net of expenses via a placing to continue the development of its LIGHT system, with the first unit expected to be installed in Harley Street, London, by the end of 2016 and first patient treatments expected in 2017.

In addition, AVO has announced that it has signed its first commercial sales contract with Sinophi for China LIGHT installation for c. US$40 million and has a strong pipeline of installations (including SUNY Upstate Medical University Hospital, New York, as well as Huai'an City China and letters of intent with Spire Healthcare and BMI Healthcare in the UK).

The audited accounts of AVO for the year ended 31 December 2013 show net losses of £3,970,496 on revenue of £68,916 and net assets of £5,365,327.

Further details on Advanced Oncotherapy plc



Investment of £70,000 in Northcote Energy plc ("NCT") (AIM: NCT)

Teathers invested £70,000 in cash in consideration for 31,111,111 ordinary shares of nil par value each in the issued share capital of NCT (representing approximately 0.52 per cent. of the enlarged issued share capital of NCT). It is expected that NCT new ordinary shares on this placing will commence trading on AIM on 11th May 2015.

NCT, an entrepreneurial energy company with a portfolio of US exploration and production assets in Louisiana and Oklahoma and with the development of new business opportunities in the US and also in Mexico has raised £2.8 million (before expenses) via a placing to further its pursuit of investment opportunities in the Mexican energy sector, which is being opened up to international companies.

In addition, NCT has announced that multiple projects are currently being evaluated in Mexico both within the NCT's joint venture with Gaia Ecologica ("Gaia"), a local Mexican company, as well as through its own contacts. Whilst nothing formal has been agreed at this stage, due diligence is underway on an opportunity to participate in a JV to construct and operate a waste remedial plant in a prime onshore oil and gas basin in Mexico - this could offer a low cost opportunity to generate cash flows in the near term and has potential for expansion in line with expected increase in drilling activity.


NCT has also announced that  it is in advanced discussions with US-based companies with experience in midstream and downstream oil and gas services with a view to partnering in their expansion into Mexico, whilst its 70% owned Shoats Creek well is expected to spud within the next 10 days following receipt of drilling permit.


The audited accounts of NCT for the year ended 31 December 2013 show net losses of USD3,762,000 on revenue of USD989,000 and net assets of USD8,048,000. 

Further details on Nothcote Energy plc


Jason Drummond, Executive Chairman of Teathers, commented: "We are delighted to have taken a strategic investment into these two high growth sectors. It is complementary to our strategy of investing in Secondary placing opportunities, which we believe have the potential to create shareholder value. The Board believes that both Investments are well positioned to capitalise and expand into these new and rapidly growing sectors."



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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