6th Aug 2015 07:40
LONDON (Alliance News) - Teathers Financial PLC on Thursday said it is in contract talks with a company that is regulated by the UK's Financial Conduct Authority for the operation of its financial services mobile application.
Teathers owns the intellectual property rights to the application, which is designed to give information about the stock market and listed companies to private investors. The app is also intended to enable qualifying users to buy shares in initial public offerings and placings at the same price and on the same deal terms as institutional investors, an activity regulated by the UK's FCA.
In a statement, Teathers said it's in "contractual negotiations with a Financial Conduct Authority regulated partner for the operation of the App, and to that end has completed a set of technical amendments to the App, that the partner would require in order for the App to become operational".
"The company will update the market in due course with regard to the completion of negotiations and anticipated timeframe for the availability of the App," Teathers said.
Teathers also wants to offer a "white label" version of the app to financial services organisations in the future.
Teathers shares were down 0.7% at 3.35 pence on Thursday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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