RCS - Tally Central Ltd - Activities & Objectives 2023 – End of Q3 Update

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02/10/2023 12:15

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RNS Number : 3705O  Tally Central Ltd  02 October 2023

TALLY CENTRAL LTD

("Tally Central" or the "Company")

Activities & Objectives 2023 - end of Q3 Update

02 October 2023

Tally Central Ltd, the non-bank money innovator and central authority of the
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® is an asset-based money (not government issued debt-based fiat
currency, nor a cryptocurrency), designed to protect and benefit the customer,
not the bank.  The Tally monetary system is independent of the traditional
banking system, but seamlessly works with its payment rails and touchpoints.
1 tally® = 1 milligram of physical gold vaulted on the customer's behalf.
 The value of tally® is insulated from devaluation by inflation and
protected from the debt exposure of the fiat currency fractional-reserve
banking system.  TallyMoney customers can deposit, save, transfer and spend
tally® using their Tally Account like any other mainstream currency in a
personal account with an IBAN (International Bank Account Number) and linked
TallyMoney debit Mastercard®.

Cameron Parry, Chief Executive Officer and Founder, commented: "At TallyMoney
we believe people should have control and ownership of their money, with
real-time utility for secure and convenient payments, and this is fundamental
to protect and grow individual financial wellbeing.

In Q3, Tally completed the consolidation of the group's mining investment
assets with the sale of the Company's Finnish JV (Joint Venture) company to
BSE (Bombay Stock Exchange)-listed Deccan Gold Mines Limited ("Deccan").
Combined with participation of approximately US$100,000 in Deccan's
concurrently-held placing, Tally will shortly hold a total of circa 14 million
Deccan shares and, together with the sale of Tally's privately held Indian
mining interests at the end of Q1, this significant shareholding is the
culmination of two years of negotiation and planning.  I am pleased to report
that Tally's shareholding has increased in value by several million pounds
since the end of Q2 and whilst currently under a restricted trading 'lock-in'
period, come March 2024 Tally should be in the unique and robust position of
being a self-funded early-stage fintech.

Q3 also saw Tally complete its first B2B deal and I look forward to providing
further details about that opportunity after we complete the development
planned in Q4 and start generating revenues from the arrangement.

In Q3, Mr Alan Davies, stepped down as Non-Executive Director of the Company
due to his other work and time commitments, and on behalf of the Board, I
would like to thank Alan for his input at Board level over his more than two
year's tenure.  The Company plans to expand the Board over the coming months
and will provide updates on this front as and when that occurs.

The Company's audited accounts for the financial year ending 30 June 2023 are
ongoing and due for completion in November.  Tally is in ongoing discussions
with potential corporate sponsors and brokers for the Company's planned IPO,
which appointments we expect to be making in Q4. Also coming up in Q4 is the
shareholder AGM (Annual General Meeting), to be held in December and for which
a Notice of AGM will be individually sent out to shareholders.

With the timing of B2B revenues to commence in Q1 and achieving the position
of being able to fund core operations through Tally's investment assets as and
when required, the Company should be able to achieve a successful IPO in or
around March 2024.  Shareholders should note however, the path to a
successful listing and the ultimate timeline will be influenced by external
factors outside of the Board's control, including the views of our corporate
service providers to be appointed, and the regulator.

On the product development front, we are pressing ahead with development of UK
SME accounts, a WebApp for retail consumers, and demonstrating how Tally's
independent asset-based monetary system and platform technology, can solve
real-world issues with fiat currencies."

 

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

·    1 tally® = 4.86 pence

·    £1.00 = 20.58 tally®

 

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 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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