Teathers Financial exploring reverse takeover options

Teathers Financial said it is in talks with two parties over a possible reverse takeover.

In an update on Friday, the AIM-listed company said the two companies have synergies with Teathers Financial Software Limited - the Teathers investee company that owns the Teathers app.

The company also said it has been in talks with advisers about creating a structure to give shareholders both direct ownership of investee company as well as the benefit from a reverse takeover.

The company said it had decided to pursue a reverse takeover after it didn’t believe it could implement an investing policy by 4 June, when it would be delisted from AIM.