Valletta, July 18 2018. blockescence plc (ISIN: MT0000580101, WKN: A1JGT0, Symbol: BCK) informs that its Board of Directors has decided to increase the company’s share capital in two steps. First, the Company issues 18,550,000 new common shares with a nominal value of EUR 1.00 per share from its Authorized Capital. These new shares are not admitted for trading. Thereof, 16,000,000 new shares were issued to Bodhivas GmbH, the Company’s main shareholder, as part of the pur-chase price for the acquisition of Samarion S.E. by blockescence plc, as reported on May 9th, 2018. In the course of this share issuance, a total of existing 2,550,000 listed shares have been made available by Bodhivas to a limited number of European qualified investors at a price of EUR 1.35 per share. Bodhivas has in turn subscribed to the equivalent number of the remaining new shares from this share issuance, according to the Memorandum of Association disapplying the share-holder’s pre-emptive right, at the same issue price, which has resulted in gross proceeds of EUR 3,442,500 to the Company. As a result, the total shares issued increase to 59,350,000 whereby the number of shares admitted to trading remain at 40,800,000. The cash proceeds from the capital increase are to be used for working capital.
Secondly, the Company has initiated a Private Placement of 10,000,000 shares, which are offered to Institutional Investors only. The Board authorized to increase this number by a maximum of 5,000,000 shares, if demand requires. These shares will be issued from the Authorized Capital according to the Memorandum of Association disapplying the shareholder’s pre-emptive right, at an issue price of minimum EUR 1.35. The cash proceeds from the capital increase are to be used to finance further organic as well as acquisitive growth of the company as well as for working capital purposes.
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About blockescence plc:
blockescence is one of the first investment firms that focuses on using Distributed Ledger Technology (DLT or blockchain technology) to create value in its own portfolio companies. blockescence implements block-chain technology in real industries, which can be disrupted by it and follows a “buy, improve & sell” strategy. It is based in Valletta, Malta and is listed on the Frankfurt Stock Exchange as well as on XETRA and has a subsidiary in Zug, Switzerland.