TIDMOBC

RNS Number : 4671Z

Online Blockchain PLC

15 May 2023

For immediate release

15 May 2023

Online Blockchain PLC

("Online" or the "Company")

Corporate Update

The Board of Online Blockchain plc (LSE: OBC) announces that the Company has sold part of its interest in ADVFN plc ("ADVFN") in a series of market sales for a total consideration of GBP256,340.

Since the last published announcement of OBC's interest in ADVFN published on 29 March 2023, OBC has sold in aggregate 1,055,000 ADVFN ordinary shares at an average price of 24.3p per ADVFN ordinary share. The total sales proceeds of GBP256,340 (before expenses) will be used by OBC for general working capital purposes.

OBC is now interested in 3,525,938 ADVFN ordinary shares representing 7.7% of the issued share capital of ADVFN. Based on the last closing mid-market market price per ADVFN ordinary share of 24.5p, this interest has a current market value of approximately GBP863,855. As set out in OBC's last interim report, the Company no longer has significant influence over ADVFN and therefore its interest in ADVFN is treated as an arm's length investment.

The principal focus of OBC remains on the development of Umbria (where OBC is an adviser) and the planned launch of the new non-fungible token ("NFT") project based on The Rocky Horror Show.

A copy of this announcement is available on the Company's website at: www.onlineblockchain.io .

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Clement Chambers, Director.

Enquiries:

For further information please contact:

 
Online Blockchain PLC 
 Clement Chambers                               +44 20 3868 670203 
 
Beaumont Cornish Limited (Nominated Adviser) 
 www.beaumontcornish.com                       +44 (0) 207 628 3396 
Roland Cornish/Michael Cornish 
Throgmorton Street Capital (Broker)            +44 (0)203 0112 309 
Cassiopeia Ltd (Investor Relations)            stefania@cassiopeia-ltd.com 
 Stefania Barbaglio 
 

About Online Blockchain plc (LSE: OBC)

Online ( www.onlineblockchain.io ) is a UK-based incubator and developer of businesses in internet and information-based technologies, including developers, administrators and custodians of blockchains and cryptocurrencies. The Company founded ADVFN www.advfn.com and has a remaining holding of 7.7% in ADVFN plc.

Online continues to consider new related opportunities and particularly crypto currencies and blockchain-based opportunities including incubating cryptocurrency start-ups and developing technical innovation in the blockchain space.

Glossary

"blockchain" is a distributed public digital ledger in which transactions are recorded chronologically

"cryptocurrency" is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of any central bank

ENDS

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END

UPDSFEFIIEDSESI

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May 15, 2023 11:15 ET (15:15 GMT)

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