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Teathers Financial (TEA)

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Monday 14 December, 2015

Teathers Financial

TFSL offers first Placing through the Teathers App

RNS Number : 8844I
Teathers Financial PLC
14 December 2015
 

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

14 December 2015

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

TFSL offers first Placing through the Teathers App

 

Teathers Financial Plc, the AIM listed investment company, is pleased to announce that the first equity placing delivered through a mobile application has been successfully completed.    Private investors subscribed for a total of £15,000 in Constellation Healthcare Technology Plc through the propriety Teathers App ('the App') as part of a £30 million placing.  The App's innovative technology enabled private investors to invest on the same terms as institutional investors.

 

The Placing was sourced and offered on an execution only basis by FCA regulated Shard Capital Partners LLP ('Shard Capital').  Shard Capital provides the on-boarding services, the regulatory compliance features and the custodial support framework for its clients when participating in the deal.  The App, which is operated by the Company's fully owned investee company, Teathers Financial Software Limited ('TFSL'), facilitated the investing process.

 

Teathers' Executive Chairman Jason Drummond said, "This is a watershed moment in delivering equity placings over a mobile platform.  It is in line with our vision to enfranchise private investors through licensed brokers, so that they can participate in placings at the same levels as institutions through the use of sophisticated mobile technology, which also benefits companies by providing an additional source of investment.  We are delighted that the uptake by Shard Capital clients has been so strong, which we believe is testament to the appetite for a platform such as developed by TFSL.  This update also demonstrates that it is business as usual at Teathers, despite our suspension, which we are working hard to resolve, and we look forward to providing additional updates in the future."  

 

TFSL Managing Director Oliver Fattal said, "We are delighted with the success our app technology has achieved in powering the first mobile-led placing in a listed company.   Our technology enables private investors to participate on the same terms as institutional investors, often at a discount to current market prices.  This is a unique investing tool for investors, companies and brokers alike, and we look forward to welcoming new users to the platform, which can be downloaded from iTunes Connect (Apple), Google Play and Android."

 

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

 

Jason Drummond

Teathers Financial Plc

+44 203 021 3466

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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