TechFinancials Inc. (AIM: TECH), a technology provider to financial trading brokers, has announced that a former employee of TechFinancials has undertaken a cashless exercise of 79,845 options pursuant to the 2014 employee share option plan, to acquire 45,329 ordinary shares of US$0.0005 in the Company in consideration for the cancellation of the balance of 34,516 options.
Additionally, this individual has 1,290 remaining options over Ordinary Shares exercisable at a price of $0.189 per share that will expire on 30 November 2016.
Application is being made for the admission of 45,329 Ordinary Shares to trading on AIM, which is expected to occur on or around 14 November 2016.
Following the admission, TechFinancials will have 68,673,551 Ordinary Shares in issue with voting rights. The above figure of 68,673,551 may be used by shareholders in the company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.