NFT Investments PLC Share Capital Reduction (4201G)
20 Luglio 2023 - 8:00AM
UK Regulatory
TIDMNFT
RNS Number : 4201G
NFT Investments PLC
20 July 2023
20 July 2023
NFT Investments PLC
("NFT Investments" or the "Company")
Share capital reduction update and proposed return of value to
shareholders
Cancellation of share premium account
NFT Investments (AQSE: NFT), an investment firm specialising in
the market for non-fungible tokens ("NFTs"), is pleased to announce
that the High Court of England and Wales has confirmed the
reduction of the Company's share capital by way of cancellation of
its share premium account.
Proposed return of value to shareholders
On 20 March 2023, the Company announced that:
-- it intended to return value to shareholders at the latest
following the Bitcoin halving currently anticipated to take place
in April 2024;
-- it intended to achieve this by purchasing its own shares
through a tender offer under which shareholders would have the
opportunity to sell shares on a pro-rata basis.
On 11 April 2023, the Company announced that the tender offer
would be for a maximum of 857,142,857 ordinary shares of GBP0.001
each ("Tender Offer"). The Tender Offer price has not been set but
will be a maximum of whichever is the greater of 3.5p per share and
an amount equal to the Net Asset Value per share as announced by
the Company on a Regulatory Information Service from time to
time.
Tender Offer
Following the cancellation of the share premium account, it
remains the Company's intention to implement a buyback by tender
offer following the next Bitcoin halving. At which point the
Company will despatch a circular to shareholders with full details
of the Tender Offer, including its opening, pricing and how it will
be implemented.
Following the opening of the Tender Offer, each qualifying
shareholder who wishes to participate in the Tender Offer is
entitled to submit a tender to sell some or all of their shares. It
is expected that the Tender Offer will close approximately 21 days
after the opening of the Tender Offer and tenders received after
that time will not be accepted. This timeline is at the Company's
discretion, and shareholders may have more or less time to submit a
tender to sell some or all of their shares.
Successfully tendered shares will then be purchased from
qualifying shareholders.
Quarterly trading update
The Company announced on 20 March 2023 its intention to publish
Quarterly Trading Updates in advance of the liquidation of its
Crypto holdings and to return value to its shareholders by way of a
tender offer for its shares.
The Company remains committed to providing quarterly trading
updates and expects to provide the Q3 trading update by 29 Sept
2023.
For further information please contact:
NFT Investments
Jonathan Bixby
Executive Chairman +44 7876 888 011
-----------------
First Sentinel
-----------------
Corporate Adviser
Brian Stockbridge +44 7876 888 011
-----------------
Tennyson Securities
-----------------
Corporate Broker
Peter Krens +44 207 186 9030
-----------------
About NFT Investments:
NFT Investments PLC invests in a diversified portfolio of
cryptocurrency, and/or in companies or funds which have exposure to
NFT or blockchain technology. The Company's leadership team have an
extensive track record in the cryptocurrency sector and previously
founded Argo Blockchain PLC, a global crypto miner. NFT Investments
is headquartered in London, UK and its shares are listed on the
Aquis Stock Exchange Growth Market under the ticker
symbol NFT. https://www.nftinvest.pro/
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END
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