Tally Central Ltd

Management Reports • Oct 2, 2023

National Storage Mechanism | Additional information

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 [email protected]

Enquiries:

Cameron Parry (Chief Executive Officer)	Tel: +44 (0)20 3490 6210
[email protected]	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).

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAFLFIIISLFIIV