6 Nov 2015 07:00
Press Release | 6 November 2015 |
TechFinancials Inc.
("TechFinancials Inc." or "TechFinancials" or the "Company")
Directors Dealings
TechFinancials (AIM: TECH), a software developer that supplies simplified trading solutions to online brokers, announces that, on 5 November 2015, various existing shareholders of TechFinancials, including Executive Directors and Officers of the Group Asaf Lahav, Jeremy Lange, Eyal Alon, Eyal Rosenblum, and Yuval Tovias, increased their direct shareholding in the Company by acquiring TechFinancials shares held by NetMavrik Ltd ("Netmavrik") including shares in which they were indirectly interested through their interest in NetMavrik. NetMavrik is a holding company of TechFinancials controlled by various parties, including Executive Directors and Officers of TechFinancials.
The 1,346,314 ordinary shares of US$0.0005 ("Ordinary Shares") were acquired at 14.5p per share, representing a 26.1% premium to the closing price of TechFinancials ordinary shares of 11.5p on 4 November 2015.
Shares acquired and the resultant holdings are set out below:
Ordinary Shares Purchased | Following Transaction | Following Transaction % | Interest held via NetMavrik | |
Eyal Alon** | 298,124 | 9,943,183 | 14.49% | 20,376 |
Asaf Lahav** | 269,830 | 9,084,283 | 13.24% | 18,621 |
Jeremy Lange** | 220,260 | 7,309,412 | 10.65% | 14,976 |
Eyal Rosenblum** | 81,594 | 5,241,836 | 7.64% | 11,000 |
Daonit | 63,233 | 2,179,428 | 3.18% | 4,300 |
Equilibrium | 225,589 | 4,444,250 | 6.48% | 15,339 |
Ran Steinman | 25,163 | 909,163 | 1.32% | 1,711 |
Ohad Berman | 6,422 | 515,465 | 0.75% | 437 |
Gigi Levi * | 36,144 | 1,951,964 | 2.84% | 2,458 |
Avner Levenstein* | 7,998 | 677,998 | 0.99% | 546 |
Yuval Tovias** | 111,957 | 111,957 | 0.16% | - |
* Including shares held in trust for Employees Stock Options Plan
** Directors of the Company
Following the transfer of these shares, NetMavrik will hold 114,386 TechFinancials Ordinary Shares, including shares held by parties listed above, representing 0.167% of the total number of Ordinary Shares (68,628,222) in issue.
Asaf Lahav, Group Chief Executive Officer of TechFinancials, commented, "The Directors and Officers of TechFinancials are delighted to announce the increase in our direct shareholding in the Company. Our agreement to purchase shares at premium to market price is further evidence of our confidence in the prospects of the Company."
- Ends -
For further information:
TechFinancials, Inc. | |
Asaf Lahav, Group Chief Executive Officer | asafl@techfinancials.com |
Yuval Tovias, Chief Financial Officer | www.group.techfinancials.com |
Grant Thornton UK LLP (Nominated Adviser) | |
Colin Aaronson / Jen Clarke/Carolyn Sansom | Tel: +44 (0) 20 7383 5100 |
Northland Capital Partners Limited (Broker) | |
Patrick Claridge/ David Hignell/ John Howes | Tel: +44 (0) 20 7382 1100 |
Peterhouse Corporate Finance Limited (Joint Broker) | |
Lucy Williams / Eran Zucker | Tel: +44 (0) 20 7469 0932 |
Media enquiries:
Abchurch Communications Limited | |
Jamie Hooper / Canace Wong | Tel: +44 (0) 20 7398 7719 |
TechFinancials@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
TechFinancials was formed in 2009 to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options. TechFinancials' platform is based on a proprietary pricing engine, which enables online brokers to price and market short-term Binary Options and Exotic Options. In 2014, around 18% of all deposits which are made to trade Binary Options globally were processed using TechFinancials' software. In early 2014, TechFinancials began to focus on the Asian market, securing distribution in Japan and China.