The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
28th January 2022
("Valereum" or the "Company")
Valereum to accelerate its acquisition schedule and to increase eventual ownership of the Gibraltar Stock Exchange to 90%
(Subject to Gibraltar Financial Services Commission ("GFSC") approval)
Further to the announcement on 25 October 2021, Valereum, the
In addition to Valereum's previous exercise of an option to acquire a 10% holding in the GSX, an option will now be exercised over a further 40%. Once the change of control has been approved, the transactions envisaged by the options that have been agreed shall complete, and these shares, together with a further 40% will be transferred to Valereum giving a total holding in the GSX of 90%.
In connection with the exercise of the Option, Valereum will seek approval from GFSC to establish the GSX as one of the world's first fully regulated, integrated fiat and digital exchanges.
The GSX will be the world's first exchange to create a seamless and fully regulated bridge that links the fiat and crypto markets. This will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give crypto currency holders the ability to have a direct, verifiable holding in fiat securities.
Richard Poulden, Chairman of Valereum commented: "This simplifying of the acquisition structure is important for all parties and will lead to faster completion of the transaction. We look forward to working with the GFSC to realise this vision for
Simon Brickles, Chairman of the Global Stock Exchange Group commented: "We welcome this enhancement of the transaction with Valereum and are excited by what lies ahead for the Exchange."
The Directors of the Company accept responsibility for the contents of this announcement.
Richard Poulden, Chairman
Tel: +971 4584 6284
AQSE Corporate Adviser
Peterhouse Capital Limited
Tel: +44 (0) 207 469 0930
J&H Communications Limited
Tel: +44 (0)7774 444163
Tel: +44 (0)7803 603130
For more information, please visit the Company's website at valereum.gi