LeapRate has learned via filings made with the London Stock Exchange that Asaf Lahav, CEO of binary options platform and operator TechFinancials Inc (LON:TECH), has added to his position in the company, albeit marginally.
Filings show that Mr. Lahav bought 25,000 TechFinancials shares on February 18 (last Thursday) via an off-market purchase, at a price of 12p per share – slightly above is market price.
Following this purchase, Mr. Lahav now holds 9,124,997 Ordinary Shares representing 13.3% of the company’s total voting rights. Mr. Lahav also controls 18,621 Ordinary Shares via holding company NetMavrik Limited.
TechFinancials overall shareholding is fairly evenly divided between Mr. Lahav and TechFinancials’ other co-founders, Eyal Alon (heads the Forex operations), Danny Magen (now an outside consultant), Jeremy Lange (COO, runs Cyprus office), and Eyal Rosenblum (CMO). Those five individuals together own roughly 58% of the company.
TechFinancials shares have struggled since the company went public in March of last year. The IPO price was £0.27 per share, more than double where it is now. TechFinancials shares closed last week at 11.78p. The company’s shares went into a tailspin last August when TechFinancials reported disappointing First Half 2015 results.
They continued down later in the year when TechFinancials indicated that it would be unable to meet profit and revenue forecasts for the full 2015 year, mainly due to the weak performance of its OptionFair binary brand.