RCS - Tally Central Ltd - Activities & Objectives 2022 - end of Q3 Update

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RNS Number : 4573B  Tally Central Ltd  03 October 2022

TALLY CENTRAL LTD

("Tally Central" or the "Company")

Activities & Objectives 2022 - end of Q3 Update

3 October 2022

Tally Central Ltd, the money innovator and non-fiat monetary authority behind
the Tally physical gold digital currency and payments ecosystem, is pleased to
provide shareholders this quarterly update.

tally® is a tangible asset-based digital currency (not debt-based fiat
currency, nor a cryptocurrency) that, through the Company's platform
technology, works seamlessly with the fractional-reserve banking system and
payments network.  1 tally® = 1 milligram of physical gold vaulted on the
customer's behalf.  Customers make funds transfers and save and spend tally®
using their individual Tally Account with IBAN (International Bank Account
Number) and linked debit Mastercard®, just like they do their local fiat
currency, but using money that protects and benefits depositors and savers,
not banks.

Cameron Parry, Chief Executive Officer and Founder, commented: "Tally
continued to evidence it's core business model in Q3 and build on key metrics
around customer acquisition, activation and retention. We maintained
controlled month-on-month results of approximately 10,000 app downloads and
continued to add over 2,000 new onboarded customers per month with over 500
account activations, whilst reducing direct marketing spend to optimise
customer acquisition cost.

Q3 saw Tally's public relations work gain some excellent exposure with
coverage in major titles such as The Times, The Daily Telegraph, The Daily
Mail, and The Express.  And the number of our website visitors were through
70,000 site visits per month.

A key corporate objective has been to complete the sale of the group's gold
exploration and mining interests in India and Finland.  Progress was made in
Q3 although completion was not. However, I am pleased to report that we are
now moving to documentation stage which should see the sale of our current
holding in Indian exploration company - Geomysore Services (India) Pvt Ltd, as
well as the sale of our interest in Finnish exploration company - Kalevala
Gold Oy, completed by the end of this calendar year.

Work to complete our audited accounts for the full year ending 30 June 2022
continues in Q4 along with going live in phases with our platform technology,
to broaden our accessible consumer markets for 2023 and beyond.

As shareholders know, along with raising new equity capital, we see an Initial
Public Offering ("IPO") of Tally shares as part of our strategy for increasing
brand and product awareness and giving customers the additional confidence of
dealing with an NBFI (Non-Bank Financial Institution) that is listed on the
LSE (London Stock Exchange).  Further it is to enable people to own part of
the tally central monetary authority.  Assessing the likelihood of a
successful IPO at a share price that appropriately reflects value for existing
shareholders, has been a quarter-by-quarter exercise.  At the end of June
this year our expectation was, subject to several factors, that we should be
able to list the Company on the LSE Main Market by the end of 2022.  During
Q3 we have had multiple broker meetings and it is apparent from those meetings
and our own observations of market conditions for IPOs, that it is in the best
interests of the Company to use Q4 to continue growing revenues and customer
numbers. This timing corresponds with other relevant milestones such as the
sale of our investment assets, implementation of our independent new cards
vertical and a pre-IPO funding.

We continue to build a valuable disruptive fintech and much-needed alternative
money that favours savers, instead of banks and borrowers.  We thank all
shareholders for their support and patience as we drive Tally forwards,
building shareholder value and delivering a safe and beneficial monetary
environment for our customers."

 

tally® priced in GBP at time of this announcement (and previous
announcements):

·    1 tally® = 4.77 pence

·    £1.00 = 20.96 tally®

 

o  As of 30 June 2022 announcement, 1 tally® = 4.77 pence (approx. £1 =
£21)

o  As of 01 April 2022 announcement, 1 tally® = 4.71 pence (approx. £1 =
t21)

o  As of 31 December 2021 announcement, 1 tally® = 4.17 pence (approx. £1 =
t24)

o  As of 30 June 2021 announcement, 1 tally® = 4.10 pence (approx. £1 =
t24)

o  As of 31 March 2021 announcement, 1 tally® = 4.00 pence (approx. £1 =
t25)

o  As of 31 December 2020 announcement, 1 tally® = 4.47 pence (approx. £1 =
t22)

o  As of 30 September 2020 announcement, 1 tally® = 4.71 pence (approx. £1
= t21)

o  As of 30 June 2020 announcement, 1 tally® = 4.63 pence (approx. £1 =
t22)

o  As of 31 March 2020 announcement, 1 tally® = 4.21 pence (approx. £1 =
t24)

o  As of 02 January 2020 announcement, 1 tally® = 3.71 pence (approx. £1 =
t27)

o  As of 25 November 2019 announcement, 1 tally® = 3.67 pence (approx. £1 =
t27)

o  As of 02 September 2019 announcement, 1 tally® = 4 pence (approx. £1 =
t25)

o  As of 10 June 2019, the initial release date, 1 tally® = 3.33 pence
(approx. £1 = t30)

 

Product and Operational Development

·    Continue to optimise and expand the public company organisational
structure

·  Continue the phasing in of Teco (Tally Ecosystem technology platform)
and integration with relevant technology partner platforms.

·    Integrate new partners with Teco, for release of new cards under the
new cards vertical to all active customers in Q4.

Ongoing Business Activities

·    Continue building the active customer base and expanding the
capabilities of the Tally monetary ecosystem.

·    Complete pre-IPO funding round

·    Complete audited accounts for the financial year ending 30 June 2022.

·   Conclude the sale of the Company's interest in Geomysore Services
(India) Pvt Ltd to Deccan Gold Mines Ltd and complete the sale of Tally's
Finland mining interests, to see the Company's Finnish and Indian mining
interests exchanged for listed securities able to be valued mark-to-market on
the Company's balance sheet in its IPO disclosure document.

 

For further information or to register for the Company's online monthly
shareholder Q&A events, please contact our office via
corporate@tallymoney.com

 

Enquiries:

 Cameron Parry (Chief Executive Officer)   Tel: +44 (0)20 3490 6210

 corporate@tallymoney.com                  www.tallymoney.com (http://www.tallymoney.com)

 

 

About TALLY

·    Tally Central Ltd is the monetary authority and innovator behind the
full-reserve payments platform and physical-asset digital money, tally®, that
operates seamlessly with government-issued fiat currency (e.g. pounds, euros,
dollars) and the fractional-reserve banking network.

·   Each unit of tally® = 1 milligram of LBMA-accredited gold vaulted in
Switzerland with Brinks® on behalf of the customer and utilised by the
customer via their Tally Account with individual IBAN (International Bank
Account Number) and contactless Tally debit Mastercard®.

·    tally® is not a fiat currency and tally® is not a cryptocurrency.

·   Tally's platform technology enables customers to use physical gold as
spendable money and  save, send and spend physical asset value in real time.

·   Tally's wholly owned 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).

·   The Tally App is available on iPhone and Android by searching
TallyMoney on the Apple App Store or Google Play Store.

·   Tally Central Ltd currently holds shares as investment assets in
UK-based Banking-as-a-Service fintech Railsbank Technology Ltd, India's
leading private gold exploration company Geomysore Services (India) Pvt Ltd
and Finland gold exploration joint venture company Kalevala Gold Oy.

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