Valereum PLC - Option to acquire company services business Sparta
Announcement provided byValereum Plc · VLRM
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
25 May 2023
("Valereum" or the "Company")
Option to acquire company services business Sparta Ltd
Valereum Plc, the
The acquisition of Sparta pursuant to the exercise of the option will constitute a change of control which is subject to the approval of the Gibraltar Financial Services Commission. Accordingly, until that approval is granted, the option will not be exercised.
The consideration for the purchase of Sparta shall be satisfied by means of
Sparta's role in the group covers the area we had previously expected to be serviced by Juno. The Juno acquisition did not ultimately proceed as our due diligence discovered serious and important issues which had not been previously disclosed.
Richard Poulden, Chairman of Valereum, said: "The acquisition of Sparta will move us towards completion of our portfolio of product offerings whereby we will able to service the NFT program in-house. Sparta is already working with Valereum and integrating its specialist services into the group will be beneficial to our strategic plans."
The Directors of the Company accept responsibility for the contents of this announcement.
Richard Poulden, Chairman
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First Sentinel Corporate Finance
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J&H Communications Limited
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For more information, please visit the Company's website at valereum.gi