1 August 2017
COINSILIUM GROUP LIMITED
(“Coinsilium” or the “Company”)
Completion of Sale of Interest in SatoshiPay
Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to confirm that, further to the announcement made by the Company on 4 July 2017, regarding an agreement sell its entire holding of 2,133 shares in investee company SatoshiPay Ltd (“SatoshiPay”) to Blue Star Capital (‘Blue Star’) at the price of Eur340 per share for a total consideration in cash of €725,220, all the terms of the Purchase and Sale Agreement (‘PSA’) have been met and the sale of the Company’s shareholding in SatoshiPay has now been completed.
Under the terms of the PSA Coinsilium will also receive 85 million warrants over new Ordinary Shares of Blue Star, of which 42.5 million are exercisable at a price of 0.6 pence per Ordinary Share and 42.5 million are exercisable at a price of 0.8 pence per share for a 3-year period from completion of the acquisition (together the “Seller Warrants”).
Eddy Travia, Coinsilium CEO, commented: “We are delighted to announce the successful completion of this transaction; the proceeds from which, together with our prevailing resources provide the Company with more than sufficient funding for our current pipeline of prospective investment and projects.
This is a most exciting time to be at the forefront of the Blockchain Technology industry and the emerging Token Economy. We look forward to announcing some exciting developments to the market in the near term.”
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Eddy Travia, CEO +44 (0) 207 099 0740
Coinsilium Group Limited
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited
Harry Chathli / Ana Ribeiro / Alexis Gore +44 (0) 207 618 9100
Luther Pendragon Ltd
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)
Nick Emerson / Andy Thacker +44 (0) 1483 413 500
SI Capital Limited
Notes to Editor
Coinsilium is an accelerator that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.
For further information, please visit http://www.coinsilium.com