Valereum PLC Option to acquire company services business Sparta (6663A)
25 Mayo 2023 - 4:46AM
UK Regulatory
TIDMVLRM
RNS Number : 6663A
Valereum PLC
25 May 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")
25 May 2023
Valereum Plc
("Valereum" or the "Company")
Option to acquire company services business Sparta Ltd
Valereum Plc, the Gibraltar technology group, is pleased to
announce that it has signed an option agreement to purchase Sparta
Ltd, a licensed company service provider in Gibraltar which
specialises in company formation and management. Sparta will be
applying to the Gibraltar regulators to extend its services
offering to cover trust formation and management in due course,
which will cover the structure necessary for linking NFTs to real
world assets.
The acquisition of Sparta pursuant to the exercise of the option
will constitute a change of control which is subject to the
approval of the Gibraltar Financial Services Commission.
Accordingly, until that approval is granted, the option will not be
exercised.
The consideration for the purchase of Sparta shall be satisfied
by means of GBP100,000 payable in cash or shares in the Company at
the prevailing share price at the time of exercise.
Sparta's role in the group covers the area we had previously
expected to be serviced by Juno. The Juno acquisition did not
ultimately proceed as our due diligence discovered serious and
important issues which had not been previously disclosed.
Richard Poulden, Chairman of Valereum, said: "The acquisition of
Sparta will move us towards completion of our portfolio of product
offerings whereby we will able to service the NFT program in-house.
Sparta is already working with Valereum and integrating its
specialist services into the group will be beneficial to our
strategic plans."
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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(END) Dow Jones Newswires
May 25, 2023 05:46 ET (09:46 GMT)
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