Oliver Fattal, NED – Teathers Financial PLC, MD – TFSL Talks exclusively to Share Talk

Oliver Fattal, NED - Teathers Financial PLC, MD - TFSL Talks exclusively to Share Talk

Teathers Financial PLC (‘Teathers’ or the ‘Company’), the AIM listed investment company announced back in September 2015 that its wholly owned investee company, Teathers Financial Software Limited (‘TFSL’), has launched ‘The Teathers App’, a new crowdfunding App to transform the way private investors deal in listed companies through the use of mobile technology.

OLIVER FATTAL – NED – TEATHERS FINANCIAL PLC, MD – TFSL Talks exclusively to Share Talk

Here is a small overview of  Teathers Financial Plc (‘Teathers’ or ‘the Company’) TEA Teathers Financial Software Limited (‘TFSL’).

Teathers Financial PLC (‘Teathers’ or the ‘Company’), the AIM listed investment company announced back in September 2015 that its wholly owned investee company, Teathers Financial Software Limited (‘TFSL’), has launched ‘The Teathers App’, a new crowdfunding App to transform the way private investors deal in listed companies through the use of mobile technology.

Teathers Executive Chairman Jason Drummond said, “This App is revolutionary because it is the first crowd equity mobile solution allowing private investors access to IPOs and placings in publicly trading companies

Thank you OLIVER for agreeing to answers subscriber’s questions and we appreciated you taking the time out from your schedule to talk to us today. We had a lot of questions sent in, so please bear with us.  

Share Talk: Can you please explain the relationship between Teathers Financial Plc (‘Teathers’ or ‘the Company’) TEA and Teathers Financial Software Limited (‘TFSL’)?

A: Teathers PLC owns 100% of TFSL which is an investment of the PLC in line with its investment policy.

I am the Managing Director of TFSL and my role is both strategic and looking after the day to day business.

I also hold the position of Non Exec Director of Teathers PLC.

Share Talk: It has also been mentioned that the App serves as an Investor relations tool for the companies seeking to raise funds in secondary placings. Teathers Financial PLC (TEA) Suspension of Trading back in December 2015 has raised questions from investors, will this affect TFSL future, development of the App. Can you comment as an acting NED with TEA?

A: The App is indeed a tool which allows companies seeking funding to enhance their investor relations by enabling all investors to participate on the same terms – however small or large.  The App enables a company to offer their non-institutional shareholders an allocation priced identically to that offered to institutions.

TFSL only charges the company the commission on funds raised through the app and shareholders have nothing to pay in the form of commission or fees for our services.

The future of the App is exciting and TEA has invested further in TFSL so that it can continue its development (this was previously announced).

Comments on the PLC suspension I will leave to our Chairman.

Regarding my role as a non-executive director, I work alongside the Executive Directors to make sure the company is being run in the interest of the shareholders.  This is my duty as a non-exec but is also in my own personal interest as I remain one of the largest shareholders in the company.

Share Talk: What steps have been taken to develop and commercialise the App in order to achieve the UK, EU and global roll out?

A: Since it began, TFSL has been plowing in R&D to develop the App.  So far results have been promising.  The App has been well received, it has worked from day one without any serious problems, and every placing and IPO put forward has been fully subscribed.

It is our intention to roll out the App efficiently.  This means we are looking to approach all possible interested parties, i.e. the companies that are seeking to raise funding, their brokers, and also to brokers seeking to improve their client relationships.

Working with Shard has been a perfect partnership for us. I am grateful to them for supporting us and our vision to create fairness for private investors.  And we will continue to build on this together with Shard.

Internationally we have agreed Heads of Terms with a Canadian company to begin our adventure in North America. There is a little more to be done in this area but we are very excited about this opportunity. More will follow in due course…

We are also considering other markets in the format we are building on in the UK, but we do not want to run before we can walk as there is still more to do here.

Share Talk: Is the programming restricted to English only? How many programmers do you require or recruiting to be able to develop the App to a wider audience?

A: No it is not restricted to English.

We are always looking to improve the cost effectiveness of TFSL’s R&D.  As a start-up we felt it best to outsource this work and currently we feel this is the best arrangement, but one day it will be the right time to bring the development in house.

Share Talk: How much commission are the App users charged to take part in placings or IPO?

A: Zero commission and zero fees for setting up and holding an account with Shard so you have nothing to lose by signing up now!

Share Talk: It has been mentioned by Jason Drummond and yourself several times over the course of 2015 that many brokers were interested in the App and thought it was a good idea and that the appetite was there to sign up – The 120-day exclusivity period with JV broker Shard Capital is up – Have you signed any agreements with other brokers to use the App?

A: We are in discussions with a number of other brokers, but we want to make sure that our next deal is with the right type of organisation and it does take time to get that right.

Share Talk: Is Shard Capital still involved with the on-boarding services, the regulatory compliance features and the custodial support framework?

A: Yes and we are very happy with them as a partner and they are fully committed and supportive of our vision.

Share Talk: Any thoughts about how PI’s could participate using their SIPP or ISA accounts – Is this something that TFSL are interested in developing in the future?

A: There is nothing preventing the App from working in conjunction with an investor’s SIPP or ISA accounts as this is all handled at the brokers end.  

Share Talk: What future plans have you got to advertise your product – App?

A: I mentioned above that we want to approach all possible interested parties, the companies that are seeking to raise funding, their brokers, and also to brokers seeking to improve their client relationships.  These organisations will be promoting the App by recommending them to their shareholders/customers.

We have also retained a PR organisation which we are working with to find the best ways to create awareness going forward.

Share Talk: Do you have any issues with the app? If not, what is preventing it to be commercialised etc.

A: We are always looking to improve the App, but there is nothing preventing its commercialisation – it is after all live and running and bringing in investment. But we need to make certain of who we work with next.

Share Talk: App users want more IPOs and Placing opportunities, what are you doing to address this?

A: We want them too!! There is no reason for a company not to use our services and we encourage shareholders of companies to direct the boards to speak to us so we can help everyone. We of course are speaking with companies and corporate brokers to work with us too.

Share Talk: On a closing note, are you attending the Momentous Events on Thursday 17th March at The Folly Bar, London http://www.momentousevents.uk/event.html

A: I hope to be there and will let everyone know closer to the time via my twitter account @olifattal

Also I would like to add for anyone buying shares online.  Any purchase made on the Teathers App is entirely FREE.  You can’t get a better deal than that! So Sign Up now if you haven’t already.  The more people sign up, the larger the allocations we will get, and the greater the opportunity for everyone involved.

LSE Share Talk will be following Teathers Financial Software Limited (‘TFSL’) progress over the coming months and if you wish to follow their twitter account @teathersapp or look at the company website www.teathersapp.com

One again thanks Oliver for the interview and we are looking forward to updating Share Talk subscribers on Teathers’ future updates.

Linking Shareholders and Executives :Share Talk

A special thank you to @Flash_37  & @stevenr94125933 ..Twitter groups for submitting questioning, Share Talk subscribers who took the time to email.

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