Online Blockchain PLC Issue of Equity, Appointment of Broker (4158B)
January 10 2018 - 2:00AM
UK Regulatory
TIDMOBC
RNS Number : 4158B
Online Blockchain PLC
10 January 2018
For immediate release
10 January 2018
Online Blockchain PLC
("OBC" or the "Company")
Issue of Equity
Appointment of Broker
The Board of OBC announces that the Company has today
conditionally raised GBP1,000,000 (before expenses) following the
placement of 1,000,000 new Ordinary Shares of 5p each ("New
Ordinary Shares") at 100p ("Placing Price") per New Ordinary Share
(the "Placing"). The new Ordinary Shares represent 13.05 per cent.
of the current issued ordinary share capital of the Company. The
New Ordinary Shares will rank pari passu with the existing Ordinary
Shares. Application will be made for admission of the New Ordinary
Shares to trading on AIM and it is expected that admission will
become effective and that dealings in the New Ordinary Shares will
commence on or around 17 January 2018.
The proceeds of the Placing will be used to provide general
working capital for the Company and to provide additional resources
to invest further in the development of block-chain projects as and
when they arise. As previously announced in December, following
testing within the ADVFN community, the PlusOneCoin wallet, which
was built on software developed by OBC, was initially launched to
ADVFN members. PlusOneCoin is designed as a social media
cryptocurrency to allow social media users to interact and "up
vote" content of other social media. The OBC developed wallet is
now being used by ADVFN members and PlusOneCoin is listed on the
Tradesatoshi cryptocurrency platform. OBC plans to develop and
introduce further functionality to the PlusOneCoin wallet.
The Company has also today appointed Smaller Company Capital Ltd
as joint broker to the Company.
Following Admission, for the purposes of the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules ("DTRs"),
OBC will have 8,662,348 Ordinary Shares in issue with voting rights
attached (one vote per Ordinary Share). The Company does not hold
any shares in treasury. This figure of 8,662,348 Ordinary Shares
may be used by the Company's shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
share capital of the Company under the DTRs.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain. The person who arranged for the release of this
announcement on behalf of the Company was Michael Hodges,
Director.
A copy of this announcement is available on the Company's
website, at www.onlineblockchain.io
Enquiries:
For further information please contact:
Online Blockchain PLC +44 (0) 207 070
Michael Hodges 0909
Beaumont Cornish Limited
(Nominated Adviser)
www.beaumontcornish.com
+44 (0) 207 628
Roland Cornish/Michael Cornish 3396
Smaller Company Capital +44 (0) 203 651
Limited (Broker to the placing) 2910
Jeremy Woodgate
Cassiopeia Ltd (Investor stefania@cassiopeia-ltd.com
Relations)
Stefania Barbaglio
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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