TechFinancials, Inc.

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(“TechFinancials, the “Company” or the “Group”)

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Issue of Equity

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Further to its announcement of 26 April 2018, TechFinancials (AIM: TECH), a leading technology provider to financial trading brokers, today is pleased to announce that the Company has issued 12,406,352 shares of US$0.0005 (“Ordinary Shares”) of TechFinancials, at a price of £0.27 per share to the OptionFortune Shareholders, in lieu of payment of US$4,527,927. The closing price of the Ordinary Shares on 10 May 2018 was £0.165 per share.

 

 

Under the to the JV Agreement, the Company is required to issue shares or make cash payments to the OptionFortune Shareholders, depending on the financial results of the JV business, DragonFinancials for the year 2017. Based on the audited financial statements of DragonFinancials for the year 2017, DragonFinancials achieved financial results requiring the Company to pay US$4,527,927 as consideration to the OptionFortune Shareholders.

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Application has been made for the 12,406,352 Ordinary Shares, comprising 9,304,764 shares issued to Mr. Shen Chaohui, 1,860,953 shares issued to Mr. Ma Liangliang and 1,240,635 shares issued to Mr. Ke Endian which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading on the AIM Market of the London Stock Exchange (“AIM”). Dealings on AIM are expected to commence at 8:00 a.m. on or around 17 May 2018 (“Admission”).

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Total Voting Rights

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Following Admission, the issued share capital of the Company will comprise 84,980,979 Ordinary Shares with voting rights attached (one vote per share). The Company does not hold any shares in treasury. This figure of 84,980,979 may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

 

Market Abuse Regulation (MAR) Disclosure

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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.