Coinsilium Group Limited - Fundraising Update PR Newswire

28 April 2017

(“Coinsilium” or the “Company”)


Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that it has successfully raised £118,000 gross of expenses through the issue of 5,900,000 ordinary shares of no par value (“Ordinary Shares”) at a price of 2 pence per share (the “Subscription”) from current and new shareholders.

The funds raised will be utilised for an investment of approximately £60,000 in a blockchain-based management system for digital assets with the balance allocated towards the development of the Company’s Smart Contract Alliance initiative and general working capital purposes. The identity of the investee company cannot be disclosed at this stage as the funding round is still open to a limited number of investors. A further announcement will be made in due course.

Directors’ participations in the Subscription:

Director      Number of Ordinary Amount subscribed Shares post fundraising
              Shares at 2 pence

Eddy Travia   250,000            £5,000            6,727,913

Malcolm Palle 250,000            £5,000            7,027,921

Tony Sarin    250,000            £5,000            3,035,714

In addition to the Subscription, the Directors of the Company have resolved to issue 600,000 Ordinary Shares in lieu of fees for services to the Company at the Subscription price (the “Fee Shares”).

The issue of shares in lieu of fees enables the Company to keep its cost base to a minimum, preserving cash for investment activities.

Following the issue of the 5,900,000 Subscription Ordinary Shares and the Fee Shares, the Company has 98,590,103 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. 

Eddy Travia, Chief Executive Officer of Coinsilium, stated:

“We are very pleased to see new and existing shareholders and all the Company’s directors supporting this fundraise which will enable us to invest in some exciting opportunities in this fast growing sector in addition to pursuing our own initiatives in blockchain and smart contract technologies. As the growth in digital asset offerings gathers pace, Smart Contracts are set to play a key role in the development of this market. Through its early investments in leaders in blockchain and smart contract technologies, Coinsilium is ideally positioned to take advantage of the commercial opportunities ahead.”

On completion of the Subscription, the Company is aware of the following disclosable interests in the share capital of the Company:

Name                  Number of Ordinary shares Percentage interest in enlarged
                                                issued share capital

Cosmic Bridge Ltd     11,791,176                11.96

Eddy Travia*          6,727,913                 6.82

Malcolm Palle*        7,027,921                 7.13

Rockridge Investments 5,500,000                 5.58

Hakim Mamoni          5,352,913                 5.43

Malcolm Burne         6,700,000                 6.80

Cameron Parry         4,877,921                 4.95

Michael Joseph        3,914,555                 3.97

Aden Partners Ltd     3,282,001                 3.33

Tony Sarin*           3,035,714                 3.08

 *  Director of the Company

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, Non-executive Director                                             +44 (0) 7785 381089
Coinsilium Group Limited

Guy Miller / Mark Anwyl                                                                     +44 (0) 207 469 0930 
Peterhouse Corporate Finance Limited 
(NEX Exchange Corporate Adviser)

Luther Pendragon Ltd

Harry Chathli, Ana Ribeiro, Alexis Gore                                              +44 (0) 207 618 9100

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.

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