14th Dec 2015 10:17
LONDON (Alliance News) - Teathers Financial PLC on Monday said it is "business as usual" despite the suspension of its shares from trading on AIM, as its mobile app enabled private investors to subscribe for GBP15,000 of shares in a broader GBP30.0 million placing by Constellation Healthcare Technologies Inc.
Jason Drummond, executive chairman, said it was a "watershed moment" in delivering equity placings over a mobile platform. The app is operated by the investment company's Teathers Financial Software Ltd investee company.
"It is in line with our vision to enfranchise private investors through licensed brokers, so that they can participate in placings at the same levels as institutions through the use of sophisticated mobile technology, which also benefits companies by providing an additional source of investment," Drummond said.
The placing was sourced and offered on an execution only basis by Shard Capital Partners LLP.
"This update also demonstrates that it is business as usual at Teathers, despite our suspension, which we are working hard to resolve, and we look forward to providing additional updates in the future," Drummond said.
Teathers Financial shares were suspended earlier this month because it hadn't undertaken a reverse takeover or implemented its investing policy within 12 months of becoming an investing company.
Constellation Healthcare's placing came on Friday, when it revealed a deal to acquire hospital practice management company MDRX.
By Samuel Agini; [email protected]; @samuelagini
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