TIDMTEA

RNS Number : 2314A

Teathers Financial PLC

03 June 2016

3 June 2016

Teathers Financial Plc

("Teathers" or the "Company")

Heads of Terms Agreement for GBP1 million Investment

Further to the announcement made by the Company on 25 May 2016, the Board is pleased to announce that Teathers has now signed a definitive, non-binding, Heads of Terms agreement with an individual investor, which will substantially recapitalise the existing business and enable Teathers to accelerate its planned expansion programme.

As previously announced, the implementation of this proposed GBP1m investment into the Company (the "Proposed Investment"), will specifically enable the Company to fund further development of the Teathers app as an unquoted company, with a view to seeking a listing as soon as practically possible in the future.

Further information regarding the Proposed Investment and the Heads of Terms will be provided as part of the notice which will be sent to shareholders in respect of the General Meeting which has been requisitioned by certain shareholders, as announced on 25 May 2016.

**ENDS**

For further information please contact:

 
                             Teathers Financial 
Jason Drummond                Plc                 +44 203 021 3466 
Charlotte Heap / Elisabeth   St Brides Partners 
 Cowell                       Limited             +44 20 7236 1177

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUGUWAQUPQGAW

(END) Dow Jones Newswires

June 03, 2016 12:00 ET (16:00 GMT)

Teathers Fin (LSE:TEA)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Teathers Fin Charts.
Teathers Fin (LSE:TEA)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Teathers Fin Charts.