AQRU plc - Board changes
RNS Number : 8787P
AQRU plc
23 June 2022
 

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Press Release

 

23 June 2022

 

 

AQRU PLC

 

("AQRU" or "the Company")

 

Board changes

 

Update on AQRU.io platform

 

AQRU plc (AQSE: AQRU), an incubator specialising in decentralised finance ("DeFi"), announces today the following board changes.

 

Dr Philipp Kallerhoff, chief investment officer of AQRU, will be joining the board as executive director subject to completion of the requisite regulatory procedures. Dr Kallerhoff has a wealth of experience in the DeFi sector, having founded DeFi Yield Technologies Inc., a platform that provides users with easy access to decentralised finance and that was acquired by AQRU in October 2021. Moreover, Dr Kallerhoff has a successful track-record in managing hedge funds across asset classes, including the management of the DeFi hedge fund for Protos Asset Management, a Swiss provider of cryptocurrency and DeFi exposure.

 

Misha Sher and Timothy Le Druillenec, non-executive directors of the Company, will be stepping down from the board with immediate effect to devote more time to their other business commitments.

 

Update on AQRU.io platform

 

The Company provides the following update on the AQRU.io platform operated by its wholly owned subsidiary Accru Finance Ltd. ("Accru Finance"). Assets in the AQRU.io platform have decreased to US$13 million. Customer sign-ups to the platform have risen to over 25,000 as at 22 June.

 

The reduction in platform assets is attributable to adverse market conditions and a fall in the price of cryptocurrencies. Other factors that impacted platform assets included the Company's decision to reduce the rates of interest offered on AQRU.io to manage risk for investors. The Company anticipates that it will be able to increase yields offered on the platform as the market recovers.

 

The Directors of AQRU plc take responsibility for this announcement.

 

For further information, please contact:

 

AQRU


Philip Blows

Chief Executive

via Tancredi +44 207 887 7633

 

Tennyson Securities


Corporate Broker

Peter Krens

 

+44 207 186 9030

Novum Securities


AQSE Corporate Adviser

David Coffman / Lucy Bowden

Broker

Colin Rowbury / Jon Belliss

+44 207 399 9400

Tancredi Intelligent Communication

Media Relations


Gabriela Amaya Garcia

Charlie Hobbs

aqru@tancredigroup.com

+44 7915 035 294

+44 7897 557 112

 

 

About AQRU PLC:

 

AQRU is an incubator specialising in opportunities in decentralised finance (DeFi), a disruptive technology using blockchain and cryptocurrencies to remove financial intermediaries from transactions, creating a cheaper, more efficient and more secure way of providing financial services. Listed on the Aquis Exchange in London, we apply our expertise to the business operations and strategic plans of FinTech companies in the UK, USA and Canada, and act as an accelerator for start-ups and early-stage companies. www.aqruplc.com

Notes:


This document contains forward-looking statements which are subject to known and unknown risks and uncertainties because they relate to future events, many of which are beyond the Company's control. These forward-looking statements include, without limitation, statements in relation to the Company's financial outlook and future performance. No assurance can be given that future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company.

 

You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. The Company undertakes no obligation to update or revise any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances. Nothing in this document is or should be relied upon as a warranty, promise or representation, express or implied, as to the future performance of the Company or the Group or their businesses.

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