TechFinancials Inc. Final dividend pay-out by Company's subsidiary (2896Y)
March 02 2017 - 1:01AM
UK Regulatory
TIDMTECH
RNS Number : 2896Y
TechFinancials Inc.
02 March 2017
2 March 2017
TechFinancials Inc.
("TechFinancials" or the "Company" or the "Group")
Final dividend pay-out by Company's subsidiary
DragonFinancials
TechFinancials expected to receive an additional
US$1,530,000
TechFinancials Inc. (AIM: TECH), a leading technology provider
to financial trading brokers, is pleased to announce a final
dividend pay-out by its subsidiary, DragonFinancials, the B2C
trading platform focused on the Asia Pacific region.
The board of directors of DragonFinancials have declared a final
dividend pay-out of US$3,000,000, payable by 15 March 2017, in
respect of the year ended 31 December 2016. Out of the total
pay-out amount the Company is expected to receive US$1,530,000 in
line with its 51% holding in the subsidiary.
This follows the Company's announcement on 28 November 2016 that
DragonFinancials declared an interim dividend pay-out of
US$2,000,000, of which TechFinancials received US$1,020,000.
Commenting Asaf Lahav, CEO of TechFinancials said:
"We are delighted by the final dividend payout by
DragonFinancials which takes the full dividend payout for FY2016
received by TechFinancials to $2,550,000. This underlines that
performance in the Group's B2C division focused on the Asia Pacific
region was solid in 2016. We remain focused on ensuring this
division continues to perform well in 2017."
For further information:
TechFinancials, Inc.
Asaf Lahav, Group Chief Executive
Officer
Yuval Tovias, Chief Financial www.group.techfinancials.com
Officer
Jeremy Lange, Chief Operations
Officer / Investor Relations
Grant Thornton UK LLP (Nominated
Adviser)
Colin Aaronson / Samantha Harrison Tel: +44 (0) 20
/ Carolyn Sansom 7383 5100
Northland Capital Partners Limited
(Broker)
Patrick Claridge / David Hignell Tel: +44 (0) 20
/ John Howes 3861 6625
Peterhouse Corporate Finance
(Joint Broker)
Lucy Williams / Eran Zucker Tel: +44 (0) 20
7469 0932
Yellow Jersey PR Limited (Media Tel: +44 (0)
Relations) 7825 916 715
Felicity Winkles / Alistair de
Kare-Silver
About TechFinancials
TechFinancials plc (AIM: TECH) is a leading innovator and
supplier of financial trading solutions for retail clients. The
Group operates a B2B division licensing white label software
solutions to online brokers. In addition, the Company operates a
B2C division operating trading platforms worldwide and
incorporating a strategic joint venture focusing on solutions for
traders in the Asia Pacific region.
Further information can be found at
http://techfinancials.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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