24 June
2021
Quantum Blockchain Technologies
Plc
(“QBT” or “the Company”)
Business
Update:
Existing
Investments and Sipiem Court Hearing Date
The board of Quantum Blockchain Technologies (AIM: QBT) is
pleased to report on recent developments on the Company’s existing
investments.
ForCrowd Srl (“Forcrowd”)
QBT has increased its stake in Forcrowd to 41.17%, having
purchased an additional 21.17% stake in ForCrowd held by minority
shareholders for a total consideration of €34,000, (€10,000 of
which has been deducted from the €20,000 payable to ForCrowd, as
announced on 1 February 2021), taking
advantage of a special situation that arose among previous
shareholders.
Furthermore, Forcrowd is due to launch its first crowdfunding
campaign of 2021 (currently in the “coming soon” section on its
website). The Company is pleased to report that the project has
already received pre-launch investment commitments, enhancing the
probability of a successful campaign for ForCrowd.
The business launching the campaign is called MakeMe Srl, an
Italian innovative start-up which operates in the recruitment
sector.
Other crowdfunding campaigns are expected to be launched
soon.
PBV Monitor Srl (“PBV”)
As announced on 15 October 2020,
PBV, in which QBT has a 10% interest, launched its intelligence
service.
Subsequently, PBV has focused on the efficient marketing of its
intelligence service to law firms and inhouse legal counsels,
whilst consolidating its editorial partnerships in Italy (to print and sell sectorial printed
directories) and establish new relationships, especially in the
USA.
Currently, considering the general improvement of the Covid-19
pandemic in Europe, PBV expects to
re-launch its industry award events for the legal sector (in
Italy and France), and hopes to re-invigorate a line of
revenue that was negatively affected in 2020.
Moving forward, PBV is aiming to consolidate its intelligence
service as a potential new line of revenue alongside its legal
directory and award events, and to soft launch its new legal
networking platform, which has been developed internally.
Geosim Systems Ltd (“Geosim”)
Following the successful delivery of its contract to develop a
3D high-resolution map of the indoor and outdoor areas of a major
Asian airport (as last announced on 17
August 2020), Geosim is currently completing the first Phase
in the development of a similar 3D Reality Model for a major North
American airport.
The Milan and London Digital
Twin projects announced on 16 December
2019, remain on hold but are still deemed viable and
potentially still of interest by QBT.
Sipiem SpA (“Sipiem”) Court Hearing
Date
Following the announcement on 28 May
2021, the Court of Venice
has scheduled the hearing for 10 November
2021 during which the Judge will receive the parties’
comments on the report of the independent expert.
As noted in the Company’s announcement, the independent expert
has assessed the economic value of the possible damages suffered by
Sipiem at an amount of up to €7.8 million, subject to the Judge
ruling that the conduct of Sipiem’s former board and internal audit
committee was unlawful.
Francesco Gardin, Executive
Chairman and CEO of QBT, commented, “Although the Company’s
focus is now primarily on Quantum, Artificial Intelligence,
Blockchain and Cryptocurrencies, QBT continues to monitor
developments of the companies it has previously invested in,
helping them in their growth and aiming eventually, to successful
exits.
“Additionally, we are pleased that the Court of Venice promptly acted to schedule a new
hearing, and we continue pursuing this legal claim with a positive
outlook”.
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under
Article 17 of MAR.
-ends-
For further information please
contact:
Quantum Blockchain Technologies Plc
Francesco Gardin, CEO and Executive Chairman |
+39 335 296573 |
SP Angel Corporate Finance
(Nominated Adviser & Broker)
Jeff Keating |
+44 (0)20 3470 0470 |
Leander (Financial PR)
Christian Taylor-Wilkinson |
+44 (0) 7795 168 157 |
About Quantum Blockchain Technologies Plc
QBT (AIM: QBT) is an AIM listed investment company which has
recently realigned its strategic focus to technology related
investments, with special regard to Quantum computing, Blockchain,
Cryptocurrencies and AI sectors. The Company has commenced an
aggressive R&D and investment programme in the dynamic world of
Blockchain Technology, which includes cryptocurrency mining and
other advanced blockchain applications.
For further information, please
visit, www.quantumblockchaintechnologies.co.uk