4 June 2024
Quantum Blockchain Technologies Plc
( “QBT” or “the Company”)
First Sipiem Settlement – Confirmation of receipt of
funds
With
reference to the Company’s earlier announcement dated 16 May 2024, the Board of Quantum Blockchain
Technologies (AIM: QBT) is pleased to confirm that, with respect to
the First Sipiem Settlement, the payment of €700,000 has now been
completed.
The
Company and CL17 also confirm that €170,000 has been paid to
Sipiem’s Receiver to complete the acquisition by CL17 of the
Receiver’s right to receive 30% of any further sums collected in
connection with the claim (net of legal fees).
Furthermore,
the Receiver has released the €30,000 which was held in an escrow
account as part of the initial claim purchase agreement (as first
announced on 10 September
2019).
The
Company would reiterate that despite its receipt in full, the
€700,000 settlement remains subject to formal approval by the
Venice Court of Appeal. The
interested parties have already filed a joint application with that
Court for this purpose.
Francesco Gardin, Executive Chairman of QBT,
commented: “We are
very satisfied to have concluded this double negotiation with
certain defendants and the Receiver. It is a tangible result which
provides us with further strength to pursue the remaining judgment
amount (€5.575 million plus interest and adjustment for inflation)
from the remaining Sipiem defendants, without having to split any
future recovered sum with any other party.”
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For
further information please contact:
Quantum
Blockchain Technologies Plc
Francesco Gardin, CEO and Executive
Chairman
+39 335
296573
SP
Angel Corporate Finance (Nominated
Adviser & Broker)
Jeff Keating
+44
(0)20 3470 0470
Kasia Brzozowska
Leander (Financial
PR)
Christian Taylor-Wilkinson
+44
(0) 7795 168 157
About
Quantum Blockchain Technologies Plc
QBT (AIM:
QBT) is an AIM listed investment company which has recently
realigned its strategic focus to technology related investments,
with special regard to Quantum computing, Blockchain,
Cryptocurrencies and AI sectors. The Company has commenced an
aggressive R&D and investment programme in the dynamic world of
Blockchain Technology, which includes cryptocurrency mining and
other advanced blockchain applications.