Teleconnect Inc. announces an Equity Buyback for 2,293,067 shares, representing 24.14% for €0.5 million.

Teleconnect Inc. (Teleconnect) telecommunications service provider in Spain. The Company’s business involves the age validation of consumers when purchasing age restricted products, such as alcohol or tobacco. The Company also sells and maintains vending solutions (through Mediawizz). The Company is also involved in the broadcasting of in-store commercial messages using the age validation equipment between age checks (through HEM), and plans to develop market survey activities in the future (Giga Matrix). The Company’s system (Ageviewers) is designed to remotely check ages. The Company’s hardware products are fully in compliance with the European Machine Directive and have been tested and approved for electromagnetic compatibility. The operations are limited to Europe.