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