Lionsgold is pleased to provide the following update in relation to the Company’s product rollout and corporate repositioning in line with its neo banking platform and hard currency, TallyTM.
· TallyTM smartphone app is in final beta testing and shareholders interested in trying the product early are invited to contact email@example.com to join the beta test.
· Notice of General Meeting to be circulated this month for proposed Company name change from “Lionsgold Limited” to “Tally Ltd” in line with the TallyTM brand and corporate strategy.
· Priority given to the public release of the TallyTM banking app, before completing the stock exchange admission process – revised timeframe to return shares to trading is mid-2019.
· Customers wanting to receive priority access to open a TallyTM account upon the platform’s public release should register at www.tallymoney.com
Cameron Parry, Chief Executive Officer, commented: “We are pleased to be at the stage where we can share the TallyTM neo banking platform with shareholders. The mobile banking app is in beta testing for both iOS and Android smartphones and public release is planned for later next month. As shareholders will understand, the priority is to release TallyTM prior to relisting the Company. The admission process shall re-commence following the public release of TallyTM and therefore the board anticipates the Company’s shares will recommence trading in the summer.
“We hope shareholders are reassured by the release of TallyTM, which is the culmination of the product and business development undertaken during the period the Company’s shares have been off the market, and can appreciate this is a necessary step toward re-listing the Company’s shares.”
“Lionsgold will circulate a notice of General Meeting (“GM”) for shareholders to vote on the proposed change of Company name from “Lionsgold Limited” to “Tally Ltd”, in line with product release and in readiness for the Company’s return to the stock market.”
“The board would like to thank all shareholders for their patience and support as Lionsgold completes this transformational phase of its corporate and commercial development.”
Exercise of Warrants
As at end of December 2018, the Company had received notices of exercise in respect of the last of the warrants attached to the placing held in December 2017, to subscribe for new ordinary shares of no par value each (“New Ordinary Shares”) at a price per share of 1.2p each (the “Warrant Shares”).
The Company has therefore issued and allotted 24,000,000 new Ordinary Shares for a total of £288,000. The New Ordinary Shares rank pari-passu with existing ordinary shares.
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA (“DTRs”), the issued ordinary share capital of Lionsgold including the issue of the New Ordinary Shares is 588,641,114 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury, therefore this figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Lionsgold under the DTRs.
Included in the total Warrant Shares figure set out above, Lionsgold’s CEO Cameron Parry, exercised Warrant Shares to subscribe for 2,500,000 new Ordinary Shares in the name of Yarramen Corp Limited which is owned by his family trust; 20,000,000 Warrant Shares were exercised by Lionsgold’s Non-Executive Director, Mr Mike Joseph; and 1,000,000 Warrant Shares were exercised by Lionsgold’s Chief Platform Officer, Mr Ralph Hazel.
· TallyTM is a 100%-reserve banking platform and hard asset currency that operates seamlessly with the fiat currency fractional-reserve banking system.
· Each unit of TallyTM is a milligram of LBMA-accredited gold held by the customer and utilised via their individually issued savings and payment account and Mastercard debit card.
· TallyTM is not a fiat currency and TallyTM is not a cryptocurrency.
· The TallyTM platform enables physical asset connectivity to the mainstream banking system.
· Lionsgold’s UK subsidiary company, TallyMoney Ltd, is a recognised E-Money Directive Agent (FCA Ref. No. 902059) under Financial Conduct Authority-licensed E-Money Institution, PayrNet Limited (FCA Ref No. 900594).
· Go to www.tallymoney.com to register for priority access to open a TallyTM banking account.
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