(MENAFN- ProactiveInvestors - UK) Teathers Financial (LON:TEA) is to focus on finding a reverse takeover and is in talks with two potential targets both of which have synergies with its financial software subsidiary.
Teathers Financial Software Limited (TFSL) owns the Teathers app and the group is mulling a new structure to give shareholders both direct ownership of TFSL and the potential upside from a reverse takeover.
This review has not yet been concluded but Teathers will issue an update by the end of February.
The Teathers App allows private investors to participate in IPOs and placings on the same terms as institutions. Since its launch last year six fundings have been concluded successfully.
Teathers said it chose the reverse takeover route after concluding it was unlikely to meet its investing policy criteria before 4 June after which it would be de-listed from AIM.
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