Valereum PLC - GSX Acquisition Update and Director Resignation
Announcement provided by
Valereum Plc · VLRM24/10/2023 14:21
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
24 October 2023
Valereum Plc
("Valereum" or the "Company")
Update on the acquisition of the Gibraltar Stock Exchange ("GSX")
Resignation of Director
Valereum Plc, the
GSX Acquisition Update
As announced on 3 October 2023, with its interim results, the Company has been in negotiation with the Gibraltar Financial Services Commission ("GFSC") to extend the deadline for completion of the acquisition of the Gibraltar Stock Exchange beyond 28 September 2023. Valereum remains committed to delivering shareholder value but unfortunately, an extension has not been granted at this time by the GFSC.
Funding Update
On 31 August 2023, the Company announced that it had secured committed funding from a
Resignation of Director
As a result of the GSX deal issues, Patrick Young has resigned as a director of the Company as Valereum has no requirement for an exchange expert at this point.
Valereum holds a fixed charge over shares totalling 50% of the GSX and will continue to have discussions with all relevant parties to find an amicable way forward. The GSX Group are still keen for Valereum to conclude the acquisition and further announcements will be made in due course.
The Directors of the Company accept responsibility for the contents of this announcement.
END
Enquiries:
Valereum Plc
Richard Poulden, Chairman
Tel: +971 4584 6284
AQSE Corporate Adviser
First Sentinel Corporate Finance
Brian Stockbridge
Tel: +44 (0) 7858888007
Investor Relations
Soho Communications Ltd
George Hudson
Tel: +44 (0)7803 603130
george@j-hcommunications.com
For more information, please visit the Company's website at valereum.gi
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