TIDMQBIT
RNS Number : 2347O
Quantum Exponential Group PLC
09 June 2022
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9 June 2022
Quantum Exponential Group plc
(the 'Company' or 'Quantum Exponential')
Company Update
Quantum Exponential Group plc (AQUIS: QBIT), a company focused
on investing in quantum technology, is pleased to provide an update
including a number of senior appointments, further strengthening
the experience available to the Company.
Highlights
-- Three investments made into Quantum technology companies in
the last three months, in addition to the option to acquire shares
in Arqit Quantum Inc:
o c.GBP300,000 invested as part of a seed funding round in
Siloton Limited resulting in a holding of 12.7%. UK based Siloton
uses quantum techniques and photonic integrated circuits for use in
sub-surface optical scanning devices with applications across
healthcare, and non-destructive testing.
o GBP406,050 invested in Aegiq Ltd through an equity investment
as well as a convertible note. Aegiq Ltd is a hardware photonics
company using quantum technologies to address the global
cybersecurity threat posed by the rise of quantum computing.
o GBP450,000 invested through an Advanced Subscription Agreement
in Universal Quantum Limited, a company focused on building the
world's first million ("qubit") quantum computers. The company was
founded by scientists from the University of Sussex.
-- Discussions ongoing with a number of potential investee companies
-- Addition to the team of Simon Frost as Chief Financial
Officer, Anthony Lyall as Investment Manager, and Anna Spandl as
Investment Analyst
Portfolio Update
As stated at the time of Admission, Quantum Exponential had
identified c.60 companies meeting its investment strategy. This
list continues to expand and in recent months the Company has
invested in three Quantum technology companies, of which Quantum
Exponential has invested alongside an impressive list of new and
existing institutional investors. The Company continues to hold
discussions with a number of further potential investee companies,
several of which are being actively pursued, subject to detailed
due diligence and completion of legal documentation.
In addition, and as previously announced, Quantum Exponential is
also looking to capitalise on the board's significant experience
and is continuing to explore creating and managing 10-year limited
partnership venture capital vehicles through the creation of a
Quantum Limited Partnership Fund. The UK's commitment to invest in
quantum technology continues to grow, and coupled with increased
global interest within the quantum computing arena, has driven the
decision to accelerate discussions with global companies and
government agencies on the feasibility of a Quantum Exponential run
UK fund.
Senior Management and Investment Team
Quantum Exponential are pleased to announce the appointment of
Anthony Lyall as Investment Manager to work alongside the Company's
CIO, Stuart Nicol. Anthony has extensive knowledge and experience
of investing in technology start-ups as well as being founder of
several early-stage companies himself and will lead transaction
execution. To support Anthony, Anna Spandl has been appointed as
Investment Analyst. Based in Austria, Anna will assist in research
and investment administration, supporting the Company's European
expansion plans.
In addition, Simon Frost has been appointed as the Company's
Chief Financial Officer. A qualified chartered accountant, Simon's
previous experience included Partner at Keith, Bayley, Rogers &
Co., the Corporate Finance division of Walker Crips Group plc.
Simon was formally Group CFO of Proactive Investors.
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
The Directors take responsibility for this announcement.
**ENDS**
For more information, visit the Company's website:
www.quantum-exponential.co.uk
For further information please contact:
Steven Metcalfe, Chief Executive Officer c/o +44 (0)207 236 1177
Novum Securities (AQSE Corporate Adviser)
David Coffman, Lucy Bowden Tel: +44 (0)20 7399 9400
Oberon Capital (Broker) +44 (0)20 3179 5344
Mike Seabrook, Chris Crawford
St Brides Partners Limited (Financial PR)
Catherine Leftley, Ana Ribeiro, Isabelle Morris +44 (0)207 236 1177
Notes to Editors
About Quantum Exponential Group plc
Quantum Exponential is a first of its kind, AQSE Growth Market
SPAC, focused on opportunities in quantum technology and the wider
quantum computing sector, with an advisory board made up of
industry advisors, entrepreneurs, and technology investment
professionals with broad access to quantum opportunities and
markets. Quantum Exponential's investment strategy is to assemble a
portfolio of minority investments in early-stage global quantum
technology companies, primarily in NATO allied countries, offering
institutional and private investors access to revolutionising
technologies and industries in the realms of artificial
intelligence, manufacturing and healthcare.
Quantum Exponential trades on AQSE Growth Market under the
ticker symbol "QBIT'.
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END
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