TechFinancials Inc. Final dividend pay-out by Company's subsidiary (2896Y)

TIDMTECH

RNS Number : 2896Y

TechFinancials Inc.

02 March 2017

 
 2 March 2017 
 

TechFinancials Inc.

("TechFinancials" or the "Company" or the "Group")

Final dividend pay-out by Company's subsidiary DragonFinancials

TechFinancials expected to receive an additional US$1,530,000

TechFinancials Inc. (AIM: TECH), a leading technology provider to financial trading brokers, is pleased to announce a final dividend pay-out by its subsidiary, DragonFinancials, the B2C trading platform focused on the Asia Pacific region.

The board of directors of DragonFinancials have declared a final dividend pay-out of US$3,000,000, payable by 15 March 2017, in respect of the year ended 31 December 2016. Out of the total pay-out amount the Company is expected to receive US$1,530,000 in line with its 51% holding in the subsidiary.

This follows the Company's announcement on 28 November 2016 that DragonFinancials declared an interim dividend pay-out of US$2,000,000, of which TechFinancials received US$1,020,000.

Commenting Asaf Lahav, CEO of TechFinancials said:

"We are delighted by the final dividend payout by DragonFinancials which takes the full dividend payout for FY2016 received by TechFinancials to $2,550,000. This underlines that performance in the Group's B2C division focused on the Asia Pacific region was solid in 2016. We remain focused on ensuring this division continues to perform well in 2017."

For further information:

 
 TechFinancials, Inc. 
 Asaf Lahav, Group Chief Executive 
  Officer 
 Yuval Tovias, Chief Financial       www.group.techfinancials.com 
  Officer 
  Jeremy Lange, Chief Operations 
  Officer / Investor Relations 
 
 
 Grant Thornton UK LLP (Nominated 
  Adviser) 
 Colin Aaronson / Samantha Harrison   Tel: +44 (0) 20 
  / Carolyn Sansom                     7383 5100 
 
 
 Northland Capital Partners Limited 
  (Broker) 
 Patrick Claridge / David Hignell     Tel: +44 (0) 20 
  / John Howes                         3861 6625 
 
 
 Peterhouse Corporate Finance 
  (Joint Broker) 
 Lucy Williams / Eran Zucker    Tel: +44 (0) 20 
                                 7469 0932 
 
 
 Yellow Jersey PR Limited (Media   Tel: +44 (0) 
  Relations)                        7825 916 715 
  Felicity Winkles / Alistair de 
  Kare-Silver 
 

About TechFinancials

TechFinancials plc (AIM: TECH) is a leading innovator and supplier of financial trading solutions for retail clients. The Group operates a B2B division licensing white label software solutions to online brokers. In addition, the Company operates a B2C division operating trading platforms worldwide and incorporating a strategic joint venture focusing on solutions for traders in the Asia Pacific region.

Further information can be found at http://techfinancials.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 02, 2017 02:01 ET (07:01 GMT)