Quantum Exponential - Update on General Meeting
Announcement provided by
Quantum Exponential Group plc · QBIT08/08/2024 09:36
8 August 2024
Quantum Exponential Group plc
(the 'Company' or 'Quantum Exponential')
Update on General Meeting
Quantum Exponential Group plc (AQUIS: QBIT), a company focused on investing in quantum technology, is pleased to provide the following update on its recent discussions with a potential investor group ("the Investors").
On 26 February 2024, the Company announced the convening of a General Meeting ("GM") on 15 March 2024 for shareholders to, inter alia, approve the cancellation of the admission of its shares to trading on the AQSE Growth Market ("Cancellation"), in accordance with the AQSE Rules. Shortly before the date of the GM, the Directors were approached by the Investors interested in making a substantial investment in the Company, subject to Cancellation not proceeding.
Since that initial approach, the Directors have remained in dialogue with the Investors to assess the merits of the proposal and take steps to conclude the proposed investment. Accordingly, the GM has been adjourned on several occasions while these talks continued.
The Investors have now provided the Company with a letter confirming a minimum equity investment of
Accordingly, the adjourned GM reconvened on 8 August 2024 at 10:00 a.m., at the offices of Fladgate LLP, 16 Great Queen Street,
The Board would like to thank shareholders for their patience during this period and look forward to providing a further update once discussions have reached a firm conclusion.
This announcement contains information that, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The Directors take responsibility for this announcement.
**ENDS**
For more information, visit the Company's website: www.quantumexp.co.uk or contact:
Steven Metcalfe, Chief Executive Officer
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Novum Securities (AQSE Corporate Adviser) David Coffman, George Duxberry
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Tel: +44 (0)20 7399 9400 |
VSA Capital (AQSE Corporate Broker) Peter Mattsson, Simon Barton
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Tel: +44 (0)203 005 5000 |
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About Quantum Exponential Group plc
Quantum Exponential is a first of its kind, AQSE Growth Market Enterprise Company, focused on opportunities in quantum technology and the wider quantum computing sector, with an advisory board made up of industry advisors, entrepreneurs, and technology investment professionals with broad access to quantum opportunities and markets. Quantum Exponential's investment strategy is to assemble a portfolio of minority investments in early-stage global quantum technology companies, primarily in NATO allied countries, offering institutional and private investors access to revolutionising technologies and industries in the realms of artificial intelligence, manufacturing and healthcare.
Quantum Exponential trades on Aquis Growth Market under the ticker symbol "QBIT".
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