NFT Investments PLC Change of name to Phoenix Digital Assets PLC (8669Y)
08 Gennaio 2024 - 8:00AM
UK Regulatory
TIDMNFT
RNS Number : 8669Y
NFT Investments PLC
08 January 2024
Press Release
8 January 2024
NFT Investments PLC
("NFT Investments" or "the Company")
Change of name to Phoenix Digital Assets PLC
NFT Investments plc (AQSE: NFT), a fund specialising in the
market for digital assets, is pleased to announce that the Company
is to change its name to Phoenix Digital Assets plc.
The relevant paperwork has been filed with Companies House, and
the change of name will be effective once Companies House has
issued a certificate of incorporation on change of name. A further
confirmatory announcement will be made when the name change is
formally effective.
The change aligns the Company's name with its strategic focus to
become the premier large cap crypto currency fund in the UK. The
Board of Directors believes that the Phoenix Digital Assets name
better reflects the Company's diverse range of crypto-assets and
investments across the Company's high performing fund.
The Company has unaudited Crypto, Stablecoin and private
blockchain assets with a valuation of GBP47.1 million (4.67p per
share) as at 31 December 2023. The fund's strong management is
reflected in effective decisions made such as the purchase of 549
Bitcoin (BTC) and 5,494 Ethereum (ETH) at a lower price in the
period November 2022-January 2023, prior to the revival of
cryptocurrency (these BTC and ETH were purchased at average prices
of $16,999 and $1,262 respectively and as of 5 January 2024 the
prices have risen to $44,000 and $2,250 respectively).
Additionally, the Company purchased 86,396 Solana (SOL) in August
2023 at $20.88 average, which as of 5 January 2024 stands at $99
per SOL.
Moreover, in light of strong fund performance, t he Company's
current share price of 2.7p represents a 38% discount to its 31
December 2023 unaudited Crypto and Stablecoin valuation and a 42%
discount to its 31 December 2023 unaudited Total NAV.
As previously announced, the Company has stated that it will
purchase up to 857m of its ordinary shares in a tender offer at an
amount equal to the net asset value of the Company per share as
announced by the Company on a Regulatory Information Service from
time to time. The Company will proceed with the tender offer
following the Bitcoin halving (currently anticipated to take place
in April 2024) and before the end of 2024.
Following the name change becoming effective, the Company's
ticker symbol, under which its shares are traded on the AQSE Growth
Market, will be changed to "PNIX", and a further announcement will
be made; until such time, trading will continue under the "NFT"
stock ticker.
In addition, the Company's website address has changed to
www.getphoenix.co.uk .
Jonathan Bixby, Executive Chairman of Phoenix Digital Assets ,
commented: "The change of name announced today further solidifies
our strategic shift in our operations that began in November 2023
at the lowest ebb of the market when we purchased the majority of
our crypto assets. The change of name to Phoenix Digital Assets
also serves to underscore the successes the Company has achieved.
We believe that we are one of the best performing crypto funds
across a variety of digital assets far beyond NFTs, and the Company
has demonstrated strong fund management in the digital asset space
holistically.
"We are eager to leverage our current momentum and the renewed
vigour in cryptocurrency to drive substantial, enduring growth in
the future and build on our value creation to date."
The Directors of Phoenix Digital Assets accept responsibility
for this announcement.
For further information please contact:
Phoenix Digital Assets
Executive Chairman via Tancredi +44 207 887 7633
Jonathan Bixby
------------------------------
First Sentinel
------------------------------
Corporate Adviser
Brian Stockbridge +44 7858 888 007
------------------------------
Tennyson Securities
------------------------------
Corporate Broker
Peter Krens +44 207 186 9030
------------------------------
Novum Securities
------------------------------
Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
------------------------------
Tancredi Intelligent Communication
Media Relations
------------------------------
Helen Humphrey +44 7449 226720
Charlie Hobbs +44 7897 557 112
Neha Dhakal +44 7915 035 294
------------------------------
About Phoenix Digital Assets
Phoenix Digital Assets PLC is a fund specialising in the market
for digital assets. The Company invests in a diversified portfolio
of cryptocurrency assets, and/or in companies or funds which have
exposure to 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.
http://www.getphoenix.co.uk/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXSSDFMWELSELF
(END) Dow Jones Newswires
January 08, 2024 02:00 ET (07:00 GMT)
Grafico Azioni Phoenix Digital Assets (AQSE:PNIX)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Phoenix Digital Assets (AQSE:PNIX)
Storico
Da Dic 2023 a Dic 2024
