6 July 2023
KR1 plc
(“KR1” or the “Company”)
Extension of Services Agreement
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company and Reflexivity Research Limited (“Reflexivity”) have agreed to extend the proposed termination date of the Services Agreement entered into between the Company and Reflexivity in 2021.
The parties have agreed that the Services Agreement will now continue until it is terminated by the Company or Reflexivity giving not less than 12 months' notice (previously 6 months), such notice not to be served earlier than the eighth anniversary (previously seventh anniversary) of the commencement of the Services Agreement.
Reflexivity is owned by George McDonaugh and Keld van Schreven, executive Directors of KR1, and Janos Berghorn, the Company’s Head of Research (the “Executives”). The amendment to the Services Agreement is therefore a related party transaction for the purposes of the AQSE Growth Market Apex Rulebook.
The Directors of KR1, other than George McDonaugh and Keld van Schreven, believe that extending the period in which KR1 has exclusive access to the Executives and the services of Reflexivity, further aligns the interests of all stakeholders. Accordingly, the Directors of KR1, other than George McDonaugh and Keld van Schreven, having exercised reasonable care, skill and diligence, consider that the extension to the Services Agreement is fair and reasonable as far as the shareholders of the Company are concerned.
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 plc George McDonaugh Keld van Schreven |
+44 (0)1624 630 630 |
| Peterhouse Capital Limited (AQSE Corporate Adviser) Mark Anwyl |
+44 (0)20 7469 0930 |
| FTI Consulting LLP (PR Adviser) Ed Berry Maxime Lopes Lynn Begany |
+44 (0)7711 387 085 KR1@fticonsulting.com |
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
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