Dispersion Holdings - Update on investment into SportsX

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23/12/2021 13:25

RNS Number : 6687W

Dispersion Holdings PLC

23 December 2021

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Press Release

23 December 2021

Dispersion Holdings PLC

("Dispersion" or "The Company")

Update on investment into SportsX

Dispersion (AQSE: DEFI), an investment company specialising in decentralised finance ("DeFi"), is pleased to update the market concerning its equity investment of €250,000 into SportsX SAS ("SportsX"), a technology and services platform for amateur and semi-pro sports clubs around the world, which was announced on 25 May 2021.

Following the investment, the Company exchanged its 62.5 million shares in SportsX for 62.5m shares in ChallengerX plc, a newly incorporated holding company, which has today been admitted to trading on the AQSE Growth Market Access Segment ("Admission") with the ticker CXS. Concurrent with Admission, ChallengerX plc completed a subscription at 2p per share, valuing it at £5.75m.

Dispersion now holds 21.73% of the enlarged share capital of ChallengerX plc, valued at £1.25m based on the subscription price, which represents a 478% increase compared with the carrying value of £216,413.

Phil Blows, Chief Executive of Dispersion, said: "We congratulate ChallengerX on its IPO and look forward to its continued development."

The directors of Dispersion Holdings plc accept responsibility for this announcement.

For further information please contact:

Dispersion Holdings
Philip Blows Chief Executive Neil Thapar Investor Relations	via Tancredi +44 207 887 7633 +44 7876 455 323
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
Edward Daly Charlie Hobbs dispersion@tancredigroup.com	+44 7861 430 057 +44 7897 557 112

About Dispersion Holdings PLC:

Dispersion Holdings 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.dispersionholdings.com

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