TechFinancials Inc. Non-core asset disposal: Update (9839D)
February 06 2018 - 1:00AM
UK Regulatory
TIDMTECH
RNS Number : 9839D
TechFinancials Inc.
06 February 2018
06 February 2018
TechFinancials, Inc.
("TechFinancials, the "Company" or the "Group")
Non-core asset disposal: Update
Further to its announcement of 24 November 2017, TechFinancials
(AIM: TECH), a leading technology provider to financial trading
brokers, today announces that it has decided not to progress with
the proposed sale of the Company's shareholdings in its non-core
subsidiaries, B.O. TradeFinancials Limited ("BOT") and
MarketFinancials Limited ("MF"), to S. Win Holdings ("the
Buyer").
As of 31 January 2018, the Buyer had not secured the relevant
regulatory consents for the acquisition of either BOT or MF and,
under the terms of the share purchase agreement, the Company has
elected not to proceed with the sale of BOT and MF.
TechFinancials is currently re-considering its options with
regard to its shareholdings in BOT and MF and will make a further
announcement in due course. In the meantime, TechFinancials will
continue to focus its attention on developing its Forex and CFD and
other innovative solutions including solutions for the rapidly
growing blockchain-based products and technologies market.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information:
TechFinancials, Inc.
Asaf Lahav, Group Chief
Executive Officer
Grant Thornton UK LLP
(Nominated Adviser)
Colin Aaronson / Samantha Tel: +44 (0) 20 7383
Harrison / Carolyn Sansom 5100
Northland Capital Partners
Limited (Broker)
David Hignell/ John Howes Tel: +44 (0) 20 3861
6625
Peterhouse Corporate Finance (Joint Broker)
Lucy Williams / Eran Zucker Tel: +44 (0) 20 7469
0932
Media enquiries:
Yellow Jersey (Media
Relations)
Charles Goodwin / Katie Tel: +44 (0) 7748 843
Bairsto 871
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 trading
platform 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
UPDTAMTTMBIMTFP
(END) Dow Jones Newswires
February 06, 2018 02:00 ET (07:00 GMT)
Techfinancials (LSE:TECH)
Historical Stock Chart
From Jul 2024 to Aug 2024
Techfinancials (LSE:TECH)
Historical Stock Chart
From Aug 2023 to Aug 2024