TechFinancials terminates planned sale of non-core businesses
Source - SMW
TechFinancials said it had decided not to progress with a proposed sale of its shareholdings in non-core subsidiaries, B.O. TradeFinancials and MarketFinancials, to S. Win Holdings.
As of 31 January, the buyer had not secured the relevant regulatory consents for the acquisitions and, under the terms of the share purchase agreement, the company elected not to proceed with the sale.
'TechFinancials is currently re-considering its options with regard to its shareholdings in BOT and MF and will make a further announcement in due course,' the company said.
'In the meantime, TechFinancials will continue to focus its attention on developing its forex and CFD and other innovative solutions including solutions for the rapidly growing blockchain-based products and technologies market.'
At 8:23am: (LON:TECH) TechFinancials Inc share price was -2.5p at 15.5p