RCS - Tally Central Ltd - Activities Summary 2023, Q4 Update & AGM Results

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RNS Number : 5735Y  Tally Central Ltd  03 January 2024

TALLY CENTRAL LTD

("Tally Central" or the "Company")

Activities Summary 2023, Q4 Update & AGM Results

03 January 2024

Tally Central Ltd, the non-bank money innovator and central authority of the
Tally full-reserve non-fiat monetary system, and physical-gold digital
currency, tally®, is pleased to update shareholders about the Company's
activities and objectives.

Tally Central's monetary system design is peerless in providing the public
with everyday accounts, each with a unique account number and sort code,
delivering sound money, and providing an easy and convenient way for
individual gold ownership.  Every unit of tally(®) (the currency, spelt with
a lowercase 't') represents 1 milligram of ethically sourced physical gold
from London Bullion Market Association (LBMA)-accredited brokers and stored
with LBMA-accredited high security vaulters, held on behalf of Tally
customers.  The gold-based full-reserve monetary system works independently
to the debt-based fiat-currency fractional-reserve banking system, whilst
operating seamlessly with the established global payments infrastructure.
Tally Accounts are the first in the world to offer individual customer IBANs
(International Bank Account Numbers) denominated in a currency that is not
issued by a government.

Cameron Parry, Chief Executive Officer and Founder, commented: "TallyMoney is
on a mission to deliver a mainstream alternative money that better serves and
protects the public where national debt-based currencies are coming up
short.  Competition delivers better outcomes, and it is through innovation
and competition that we are looking to have a positive impact on people's
individual financial wellbeing and encourage more economic productivity in
society.

2023 saw significant milestones achieved by the Company against a difficult
capital raising environment.  May 2023 saw Tally's proprietary platform
technology 'Teco' (short for Tally ecosystem) go live with card payments
authorisation and integrate directly with our entire debit cards vertical
(processing, issuing, and manufacturing).  And the Company is currently in
the process of further increasing its capabilities through integration with
new BaaS (banking as a service) providers.  2023 also saw Tally Central
complete the consolidation of its privately held mining and exploration
interests through the sale of the Company's Indian and Finnish assets for
shares in Bombay Stock Exchange-listed company, Deccan Gold Mines Limited
("Deccan").  Tally Central was able to fund its working capital requirements
by raising £2.9m over the course of calendar year 2023, through convertible
loan notes at an average coupon of 16%p.a. with a conversion price of 3p per
share.

In Q1 2023, the sale of Tally's shareholding in private exploration company
Geomysore Services (India) Pvt Ltd to Deccan was confirmed by the Indian
regulator and the share swap completed.  Operationally, Tally Central
continued its technology and organisational development.

In Q2 2023, after more than two years of design, development and incremental
integration, the Company's proprietary platform technology 'Teco' went live
fully integrated on 2(nd) May 2023, seeing Tally Central running all tally
ledgers on its in-house architecture and directly operate its debit card
vertical as the payment authoriser.  In June, the 'piece of art in your
pocket' Tally debit Mastercard® designs were released to customers.

Q3 2023 saw Tally complete the consolidation of the group's mining investment
assets with the sale of the Company's Finnish JV (Joint Venture) company to
Deccan.  Combined with participation of approximately US$100,000 in Deccan's
concurrently held placing, Tally increased its total holding in Deccan to
approximately 14 million shares representing 9.4% of Deccan.

Q4 2023 saw Tally commence work to change Banking-as-a-Service ("BaaS")
providers to increase its capabilities for B2B monetary solutions and use of
tally® in jurisdictions beyond the UK.

With the timing of changing BaaS providers occurring sooner than expected, the
Company's focus this quarter is to complete the integration work during
January and February and re-establish B2C revenue growth over three months, as
well as commence first B2B revenues.  We are currently working on securing a
final tranche of funding and in Q2, Tally Central's shareholding in Deccan
comes out of lock-in and can be used to support working capital needs, if
required.  Tally Central will then be a self-funded fintech with global
application and growth trajectory.  It is on this basis that the Board
believes the Company will be attractive to IPO, and although subject to
factors outside of the Board's control, we aim to have Tally's shares trading
on the LSE main market by 30 June (the Company's financial year end).  We
thank shareholders for their patience and support.  There is much to
accomplish over the next two quarters, but it's exciting to see the Company in
this opportune position as we start 2024."

 

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

·    1 tally® = 5.23 pence

·    £1.00 = 19.12 tally®

 

o  As of 02 October 2023 announcement, 1 tally® = 4.86 pence (approx. £1 =
t21)

o  As of 03 July 2023 announcement, 1 tally® = 4.86 pence (approx. £1 =
t21)

o  As of 01 April 2023 announcement, 1 tally® = 5.11 pence (approx. £1 =
t20)

o  As of 31 December 2022 announcement, 1 tally® = 4.85 pence (approx. £1 =
t21)

o  As of 30 September 2022 announcement, 1 tally® = 4.77 pence (approx. £1
= t21)

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® = 4.33 pence (approx. £1 =
t23)

o  As of 30 September 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)

 

AGM Results

The Annual General Meeting of Shareholders for Tally Central Ltd was held on
Friday the 29(th) of December 2023 at the Company's registered office in
Guernsey and all Ordinary Resolutions and Special Resolutions were unanimously
passed.

 

For further information or if shareholders have any queries, 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 central monetary authority and innovator
behind the independent monetary system, 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 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).

·    Tally Savings & Everyday Accounts can be accessed via Tally's
Smartphone App, 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
Bombay Stock Exchange-Listed Deccan Gold Mines Limited (BO:DECNGOLD).

 

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