5th Feb 2016 10:41
LONDON (Alliance News) - Teathers Financial PLC said Friday that it currently believes it is unlikely it will be deemed to have implemented its investing policy under AIM rules by June 4, the deadline after which its shares will cease to be listed on AIM.
The company's shares are currently suspended after it was unable to implement its investing policy within a year of becoming an investing company.
Teathers Financial said it has been focusing primarily on identifying a potential reverse takeover target, and has been in talks with two potential targets, both of which have synergies with Teathers Financial Software Ltd, the Teathers investee company that owns the Teathers App.
The Teathers App is a mobile application designed to enable private investors to take part in initial public offerings and placings of listed companies.
Teathers Financial said that it has also been in talks with its advisers about creating a structure that would give shareholders both direct ownership of Teathers Financial Software and the potential upside from a reverse takeover.
The company plan to provide a further update on this review by the end of February.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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