3rd Jun 2016 16:15
LONDON (Alliance News) - Teathers Financial PLC on Friday said it has now signed a definitive, non-binding, heads of terms agreement with an individual investor to raise GBP1.0 million.
The agreement will "substantially recapitalise" the existing business and "enable" Teathers to accelerate its planned expansion, the company said in a statement.
"As previously announced, the implementation of this proposed GBP1 million investment into the company, 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," Teathers said.
By Samuel Agini; [email protected]; @samuelagini
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