DIVIDEND PAY-OUT BY COMPANY SUBSIDIARY, DRAGONFINANCIALS
(“TechFinancials, Inc.” or “the Company”)
Dividend pay-out by Company subsidiary, DragonFinancials
TechFinancials to receive US$867,000
TechFinancials (AIM: TECH) (the “Company” or the “Group”), a fintech software provider of financial solutions including blockchain-based digital assets and traditional financial trading solutions for retail clients, announces that DragonFinancials, the Company’s 51% owned subsidiary and operator of its B2C trading platform focused on the Asia Pacific Region, has declared a final dividend pay-out of US$1,700,000, payable by 9 December 2018, in respect of 2017. This dividend is in addition to the two dividends declared by DragonFinancials in 2017 amounting to US$4,200,000, of which TechFinancials received US$ 2,142,000.
Out of the total final dividend payout of US$1,700,000, TechFinancials is expected to receive US$867,000 in line with its 51% holding in the subsidiary.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information:
TechFinancials, Inc .Tel: +972 54 5233 943
Asaf Lahav, Group Chief Executive Officer
Yuval Tovias, Chief Financial Officer
Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Colin Aaronson / Samantha Harrison / Seamus Fricker
Northland Capital Partners Limited (Broker) Tel: +44 (0) 20 3861 6625
David Hignell / Rob Rees
Yellow Jersey PR Limited (Media Relations) Tel: +44 (0) 7747 788 22
Charles Goodwin / Felicity Winkles
TechFinancials, Inc (AIM: TECH) is a fintech software provider of financial trading solutions, including blockchain-based digital assets and traditional 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 platform incorporating a strategic joint venture focusing on solutions for traders in the Asia Pacific region.
In December 2018, the Company signed a binding agreement with Footies Tech Ltd, a ticketing venture for sports venues and teams, to license its technological blockchain infrastructure and established a new company to develop and market a blockchain based ticketing solution and event economics management system. The new venture is underway and is focused on enabling sports organisations to take full control over their ticket path once issued, including secondary market trading configuration and enforcement. The ultimate vision is to fully digitise sport clubs match day experience to economically benefit both fans and football clubs.
Additionally, TechFinancials holds a 2% interest and an option to acquire a further 90% in CEDEX, a blockchain-based on-line exchange for diamonds, which would give TechFinancials up to 92% of CEDEX or 87.4 % on a fully diluted basis.
Further information can be found at techfinancials.com.