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Teathers Financial (TEA)

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Monday 29 June, 2015

Teathers Financial

New Investment in Xtract Resources Plc

RNS Number : 5244R
Teathers Financial PLC
29 June 2015
 

 

29 June 2015

 

Teathers Financial Plc

("Teathers" or the "Company")

New Investment in Xtract Resources Plc

 

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 29 June 2015 in accordance with its Investing Policy:

Investment of £75,000 in cash in Xtract Resources Plc (AIM:XTR) ("Xtract")

Through a broker which participated in the placing announced by Xtract on 29 June 2015, Teathers has invested £75,000 in consideration for 25,000,000 ordinary shares of 1p each in the issued share capital of Xtract (representing approximately 0.29 per cent. of the enlarged issued share capital of Xtract) at a price of 0.3p per share.

Xtract is an AIM quoted gold and copper exploration and development Company with projects in Chile and South Africa. The audited accounts of Xtract for the year ended 31 December 2014 show a loss before tax and other comprehensive income / loss of £2,949,000 (2013: loss before tax and other comprehensive income / loss of £128,000) on revenues of £1,144,000 (2013: nil) and net assets of £1,599,000 (2013: £2,267,000).

 

Further information on Xtract can be found on its website at www.xtractresources.com.

 

 

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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