TALLY CENTRAL LTD

("Tally" or the "Company")

Activities Summary 2024, Q4 Update & AGM Results

08 January 2025

Tally Central Ltd, the independent 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 empowers people to use sound money in an everyday account with a Mastercard^® debit card, and provides simple and inexpensive gold ownership, with instant utility.  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.  Tally's standalone monetary system operates independently to the debt-based fiat-currency fractional-reserve banking system but seamlessly works with established merchant and payments infrastructure.  Tally is 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: "Tally is on a mission to provide people with sound money as an everyday mainstream alternative that serves and protects them, as an alternative to their national debt-based currency.  Through innovation and competition, we endeavour to enhance people's individual financial position and encourage productivity and prosperity in society.

2024 provided some challenges and breakthroughs for the Company.  For the first half of the year the business was unable to onboard new customers whilst migrating away from an old BaaS (Banking-as-a-Service) platform and integrating with a new provider - Transact Payments Limited ("TransactPay"). 

In Q1, amongst platform integration work, in February 2024, Tally won 'Best Product Design' for Tally's 'piece of art in your pocket' debit Mastercard® at The Card & Payments Awards in London.

In Q2 2024, work continued to complete integration with TransactPay and from June 2024 new customers were again able to be onboarded and issued with individual IBAN (International Bank Account Number) accounts.  Also importantly, Tally's shares held in Bombay Stock Exchange-listed company, Deccan Gold Mines Limited ("Deccan"), came out of lock-in.

Q3 2024 saw Tally divest part of its Deccan holdings and start recovering the cost of its investment outlay, provide working capital and repay (including repayments made in Q4) £1.8m in Convertible Loan Notes.  In Q3 Tally also commenced recruiting additional key talent into the team to complete the organisational structure to deliver the UK market growth strategy and concluded a new investment for a strategic 5% holding in travel industry SaaS (Software-as-a-Service) company, Journey Mentor Ltd.

In Q4 2024, key additional personnel were secured and added to the TallyMoney team, including: Chief Revenue Officer, Head of Product, Head of CRM, and Head of Compliance & MLRO.  In line with increasing organisational capabilities, Tally used Q4 to evolve its UK market plans and global growth strategies.  In addition, Tally appointed a Guernsey-based corporate specialist as Company Secretary to, among other activities, implement the corporate strategy to see the Company's shares quoted in early 2025 on a private capital market in London.

Tally Central starts 2025 as a self-funded fintech with global application of its platform technology and the necessary operational resources to deliver revenue growth over the next two years to achieve profitability of the core business.  To fulfil the Board's commitment to provide a readily available secondary market for shareholders to buy/sell shares, the Board has determined the best way to achieve this corporate objective whilst focusing resources on core business growth, is to quote the Company's shares on the JPJ Jenkins exchange in London.  After 2026 the Board will review business performance as well as the UK capital market's trajectory and reassess which public company stock market, be it the London Stock Exchange, New York NASDAQ or other public stock market, best fits the next high growth phase of Tally's commercial development.

It has no doubt been a long hard road to get Tally to this point, but building something of substance is never easy.  There is much to drive and achieve over the next two years, as we deliver choice to the public in the quality of everyday money they can choose for saving and spending.  And we shall do this with Tally's shares tradeable on a private market for those looking to depart or join this new stage of Tally's journey. In the words of the American author Margaret Mead: 'Never doubt that a small group of thoughtful committed citizens can change the world; indeed, it is the only thing that ever has'.  With that in mind we thank our team of dedicated individuals for their resolve and our shareholders for their patience and support as Tally moves into this new phase of growth and opportunity."

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

·    1 tally® = 6.92 pence

·    £1.00 = 14.46 tally®

o  As of 08 October 2024 announcement, 1 tally = 6.44 pence (approx. £1 = t16)

o  As of 31 July 2024 announcement, 1 tally = 6.05 pence (approx. £1 = t17)

o  As of 02 April 2024 announcement, 1 tally® = 5.79 pence (approx. £1 = t17)

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)

AGM Results

The Annual General Meeting of Shareholders for Tally Central Ltd was held on Wednesday the 11^th of December 2024 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:

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®, which stays separate to but connects with the fractional-reserve banking payments network to exchange seamlessly with government-issued fiat currency (e.g. pounds, euros, dollars) for electronic funds transfers, card payments and ATM withdrawals.

·     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 Savings & Everyday Accounts can be accessed via the Tally' Smartphone App, available on iPhone and Android under "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).