TechFinancials to sell Cedex to Lem Management

TechFinancials today announces it has entered into a Share Purchase Agreement to sell its 99.84% owned subsidiary, Cedex Holdings Limited, to Lem Management Limited.

According to the terms of the Agreement, TechFinancials will be entitled to future consideration upon Lem Management succeeding to raise US$20 million in a single or series of related transactions, for the future operation of Cedex, or selling Cedex for a minimum of US$2 million.

In certain circumstances of a sale of Cedex, or the assets of Cedex, by the Buyer, the Company will be entitled to receive 50% of that consideration above US$ 2 million. Between US$5 million and US$50 million, the Company will be entitled to receive US$1.6 million out of the first US$5 million and 4% out of the remainder, but no more than US$2 million. US$50 million and above, the Company will be entitled to receive 4% of the proceeds.

There is no other consideration payable to the Company.

Asaf Lahav, TechFinancials Executive Director stated:

“I am glad that we have managed to sell Cedex, something the Company tried to do in the past 18 months. This sale is part of our strategy to save costs and try to maximise shareholders value. We will continue looking for investment opportunities for the benefit of our shareholders”.

TechFinancials has recently posted its unaudited interim results for the six month period ended 30 June 2021 (H1 2021).

Group Revenues for the period amounted to US$nil (H1 2020: US$0.61m), whereas loss for the period attributable to shareholders was US$0.1 million (H1 2020: loss of US$0.55m).

TechFinancials’ cash position at the period end was US$1.33 million (31 December 2020: US$1.42m).

39 Replies to “TechFinancials to sell Cedex to Lem Management”

  1. Dieses Turnier findet den ganzen Monat über statt und bietet Langzeitspielern ständige Chancen auf die
    Rangliste. BassBet Casino bietet ein umfassendes Spielerlebnis mit Tausenden von Casinospielen, schnellen Auszahlungen und einer Vielzahl von Promotionen. Diese Rückzahlungen machen das Spielen deutlich
    fairer und bieten eine Art Sicherheitspuffer, der insbesondere Vielspielern zugutekommt.
    Spieler erwartet eine Mischung aus traditionellen Früchteslots, Abenteuerspielen und neuen Releases internationaler Top-Studios.

    Ja, Bassbet Casino bietet verschiedene Aktionen, einschließlich Freispiele, als Teil des Willkommensbonus und laufende
    Aktionen für bestehende Spieler an. Mit über 1.000 Optionen gibt es viel zu bieten, um die Spieler
    zu unterhalten, egal ob Sie sich für Slots, Tischspiele oder
    Live-Dealer-Aktionen interessieren.
    BassBet Casino vergisst auch die Stammspieler nicht und bietet regelmäßige Promotionen und Angebote.
    Neben großartigen Casinospielen bietet das Casino auch eine breite Auswahl an Sportwetten,
    die den Nervenkitzel auf ein neues Level heben. Daher bietet das Casino eine
    breite Auswahl an Zahlungsmethoden, die schnelle und
    sichere Einzahlungen und Auszahlungen ermöglichen. BassBet Casino Deutschland hat eine Plattform entwickelt,
    die es einfach macht, Spiele zu durchsuchen und schnell Ihre Lieblingsspiele
    zu finden. Für diejenigen, die klassische Unterhaltung bevorzugen, bietet BassBet Casino eine breite Palette
    an Tischspielen – von Roulette über Blackjack bis hin zu Poker.
    Es ist erwähnenswert, dass BassBet Casino online auch auf mobilen Geräten verfügbar
    ist, was bedeutet, dass man auf dem Handy oder Tablet spielen kann, unabhängig davon,
    wo man sich befindet.

    References:
    https://online-spielhallen.de/rocketplay-casino-login-ihr-tor-zur-gaming-welt/

  2. There is no monthly subscription fee and you can begin to watch TV shows and movies for free right now by downloading
    the Tubi app. Tubi is always adding great new content, so stay
    tuned to find out what you can watch completely for free right now on Tubi.
    Follow the topics, people and companies that matter to you.

    Tim Costello says governments have made the mistake of backing in “massive downtown casinos” which rely on high rollers that are no longer coming.

    Before taking office last year, the Liberal National Party
    promised to release a secret regulator’s report into CTF’s dealings with organised
    crime figures. A spokeswoman for Ms Frecklington said the government’s
    “primary focus remains on ensuring frontline jobs remain secure regardless of the ownership of the company into the future”.

    References:
    https://blackcoin.co/luxor-las-vegas-in-depth-guide/

  3. Sweet blog! I found it while surfing around on Yahoo News.
    Do you have any tips on how to get listed in Yahoo News?

    I’ve been trying for a while but I never seem to get there!
    Thanks

  4. I feel that is one of the most important info for me. And i am glad studying your article. However want to commentary on some basic issues, The site style is great, the articles is in point of fact great : D. Excellent activity, cheers

  5. Hello there, You’ve done a fantastic job. I will definitely digg it and personally recommend to my friends. I am confident they will be benefited from this website.

  6. After I originally commented I appear to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I receive 4 emails with the exact same comment. Is there a way you can remove me from that service? Thanks!

  7. I think the admin of this web site is really working hard in support of his web site, as here every data is quality based material.

  8. Everyone loves it when people come together and share thoughts. Great site, stick with it!

  9. Hmm is anyone else encountering problems with the images on this blog loading? I’m trying to find out if its a problem on my end or if it’s the blog. Any feedback would be greatly appreciated.

  10. My brother suggested I might like this web site. He was totally right. This post truly made my day. You can not imagine simply how much time I had spent for this information! Thanks!

  11. I’m curious to find out what blog platform you’re using? I’m having some minor security problems with my latest site and I would like to find something more risk-free. Do you have any solutions?

  12. always i used to read smaller posts that also clear their motive, and that is also happening with this post which I am reading at this place.

  13. Quality content is the secret to be a focus for the people to visit the web page, that’s what this website is providing.

  14. My partner and I stumbled over here from a different website and thought I may as well check things out. I like what I see so now i am following you. Look forward to looking over your web page yet again.

  15. Thank you for the good writeup. It if truth be told was a amusement account it. Look complex to far brought agreeable from you! By the way, how could we keep up a correspondence?

  16. Post writing is also a excitement, if you be familiar with then you can write if not it is complicated to write.

  17. Howdy! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My site looks weird when viewing from my apple iphone. I’m trying to find a theme or plugin that might be able to resolve this issue. If you have any suggestions, please share. With thanks!

  18. What a stuff of un-ambiguity and preserveness of valuable experience about unpredicted emotions.

  19. Great info. Lucky me I came across your site by chance (stumbleupon). I’ve book marked it for later!

  20. I think this is among the most significant info for me. And i am glad reading your article. But wanna remark on some general things, The web site style is ideal, the articles is really excellent : D. Good job, cheers

  21. Greate article. Keep writing such kind of information on your site. Im really impressed by it

  22. Thank you a lot for sharing this with all people you really know what you are speaking about! Bookmarked. Please also talk over with my website =). We may have a link trade arrangement among us

  23. Unquestionably believe that which you stated. Your favorite reason seemed to be on the net the easiest thing to be aware of. I say to you, I certainly get annoyed while people consider worries that they plainly don’t know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side-effects , people could take a signal. Will likely be back to get more. Thanks

  24. First of all I would like to say terrific blog! I had a quick question in which I’d like to ask if you do not mind. I was curious to know how you center yourself and clear your thoughts prior to writing. I’ve had difficulty clearing my thoughts in getting my thoughts out there. I do enjoy writing but it just seems like the first 10 to 15 minutes are generally wasted just trying to figure out how to begin. Any suggestions or hints? Cheers!

  25. Fabulous, what a blog it is! This webpage provides valuable information to us, keep it up.

  26. For hottest information you have to pay a quick visit the web and on world-wide-web I found this site as a finest web page for most up-to-date updates.

  27. I every time used to study post in news papers but now as I am a user of web thus from now I am using net for posts, thanks to web.

  28. It’s the best time to make some plans for the long run and it is time to be happy. I have learn this submit and if I may I wish to counsel you some fascinating issues or advice. Perhaps you could write next articles relating to this article. I wish to learn more issues approximately it!

Leave a Reply

Your email address will not be published. Required fields are marked *