RCS - Tally Central Ltd - Activities & Objectives 2024 - end of Q1 Update

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RNS Number : 0579J  Tally Central Ltd  02 April 2024

TALLY CENTRAL LTD

("Tally Central" or the "Company")

Activities & Objectives 2024 - end of Q1 Update

02 April 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 for savings and payments, 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 provide
individual customer IBANs (International Bank Account Numbers) to access a
currency that is not issued by a government.

Cameron Parry, Chief Executive Officer and Founder, commented: "The first
quarter of 2024 has seen Tally prioritise the changing of its BaaS
(Banking-as-a-Service) provider.  This work is in its final stages and
expected to be completed in April, at which point all existing Tally customers
will be migrated across and following further testing, we will start accepting
new customers onto Tally's monetary platform.

Concurrent with the change to a new BaaS provider, the Company used Q1 to
refine its product value proposition and UK market strategy, along with
re-modelling pricing for the B2C offering.  The audited accounts were also
complete during the quarter and are available on the Company's website:
www.tallymoney.com/investors/reports/
(http://www.tallymoney.com/investors/reports/)   In other news in Q1, it was
terrific to see Tally's 'piece of art in your pocket' debit Mastercard® win
'Best Product Design' at The Card & Payments Awards held in London at the
start of February and congratulations to all of our team involved in that
cards product.

At the start of 2024, we were aiming to achieve a June listing of the
Company.  This was subject to being able to secure appropriate funding and
completing the BaaS provider changeover in early March.  Whilst we were
successful in securing the necessary funding in Q1, the Company is still
completing the BaaS integration.  It is important for a successful IPO that
the Company demonstrates at least three full months of customer and revenue
growth in the UK market once we are onboarding new customers again.  With new
customer acquisition likely starting in May, and allowing for financial
year-end documentation to be finalised in August and investor roadshows early
September, the Company's targeted listing timeline has been revised to the end
of Q3, 2024.  We share the frustration this may cause in having the targeted
listing pushed back by three months, but these are necessary steps toward a
successful IPO and we remain committed to listing the Company as a key
corporate objective."

 

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

·    1 tally® = 5.79 pence

·    £1.00 = 17.27 tally®

 

o  As of 02 January 2024 announcement, 1 tally® = 5.23 pence (approx. £1 =
t19)

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)

 

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 Tally monetary system, independent 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 payments 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 - Financial Conduct Authority (FCA) Ref.
No. 902059).

·    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 holds investment assets by way of a significant
shareholding in Bombay Stock Exchange-Listed Deccan Gold Mines Limited (BSE:
DECNGOLD).

 

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