Valereum PLC Group Update and Issue of Shares in Subsidiary (9955U)
March 31 2023 - 9:03AM
UK Regulatory
TIDMVLRM
RNS Number : 9955U
Valereum PLC
31 March 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR")
31 March 2023
Valereum Plc
("Valereum" or the "Company")
Group Update and Issue of Shares in Subsidiary
Valereum Plc, the Gibraltar technology group, is pleased to
announce that it has issued a total of 11,280 new ordinary shares
of 0.0001 pence in its subsidiary Valereum Collections Ltd (the
"Collections Shares") at a price of GBP6.25 per share. This raises
GBP70,500 and Valereum now owns 99.8% of Valereum Collections Ltd.
These shares will not be listed.
As previously mentioned, NFTs are an important part of the
group's strategy in addition to the Gibraltar Stock Exchange
("GSX") acquisition and Valereum Collections is the subsidiary
which will be used to operate the group's NFT program. This program
will cover the linking of NFTs to real world assets in conservation
and motorsport. Using a blockchain provider Valereum Collections
will appeal to all age groups by providing payment methods using
both crypto and fiat currency.
According to a report released by the consulting and global
research firm VMR (Verified Market Research), the overall value of
the NFT market is expected to rise to $231 billion by 2030.
Further details about the assets and how the NFT program will
function will be made later in the year.
The NFT project is separate from the group's intended purchase
of the balance of the GSX and Valereum PLC will make further
announcements in relation to this as the transaction progresses. It
will be crucial in creating the foundation of a new international
network headquartered in Gibraltar.
If the purchase of the GSX is successful, the future focus of
the GSX will be to expand the access to European capital for early
stage and small-cap companies in the Middle East, India and Africa
- where there is a huge opportunity to empower entrepreneurs across
the region.
We continue to work hard behind the scenes to ensure shareholder
value is sustained in what can only be described as difficult times
in turbulent markets.
We appreciate shareholder's patience and are looking to make a
significant announcement in due course. We would remind investors
that we have until 28(th) July 2023 to exercise the balance of our
option although we confidently expect to complete this
substantially sooner.
The Directors of the Company accept responsibility for the
contents of this announcement.
END
Enquiries:
Valereum Plc
Richard Poulden, Chairman
Tel: +971 4584 6284
AQSE Corporate Adviser
First Sentinel Corporate Finance
Brian Stockbridge
Tel: +44 (0) 7876 888 011
Investor Relations
J&H Communications Limited
George Hudson
Tel: +44 (0)7803 603130
george@j-hcommunications.com
For more information, please visit the Company's website at
valereum.gi
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END
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March 31, 2023 09:03 ET (13:03 GMT)
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