12.12.2018 08:00:02

Coinsilium Group Limited: STRATEGIC FINANCING

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: STRATEGIC FINANCING

12-Dec-2018 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


12 December 2018

 

COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

STRATEGIC FINANCING

 

Coinsilium Group Limited (NEX: COIN), the blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that it has raised GBP367,125 before expenses to fund the further growth and development of the Company.

 

Highlights:

 

  • Strategic financing with GBP367,125 raised through the issue of 9,178,125 new ordinary shares of no par value ("Ordinary Shares") at 4.0p per share.

 

  • Financing undertaken at a 23.1% premium to the market close price on 11 December 2018, with a new strategic investor and a number of existing shareholders;

 

  • Each new Ordinary Share is accompanied by one warrant to subscribe for one further new ordinary share at a price of 7.5p ("Exercise Price"), with a 2-year expiration ("Warrants").

 

  • Warrants include an acceleration provision whereby, should the Ordinary Shares of the Company close at a volume weighted average share bid price exceeding 15p for 5 consecutive trading days, the Company will have the right to require  the immediate warrant conversion at the Exercise Price;

 

  • Funds raised will be applied to strategic advancement of the Company, including a number of high impact initiatives under development.

 

 

Malcolm Palle, Executive Chairman of Coinsilium commented: "Today's financing brings a new strategic sector-focused investor onto our register. Further, adding to our working capital funds will enable us to implement a number of important strategic initiatives to support Coinsilium's growth through 2019 and beyond.

 

"Shareholders and investors will be aware that the blockchain landscape has been challenging through much of this year and whilst this has impacted on the market valuation of the Company, we are now presented with some interesting strategic opportunities on markedly improved terms.

 

"Whilst we still see significant upside in our business from existing and new opportunities, we also recognise the need to employ a degree of caution when committing working capital. The funds raised will therefore be effectively deployed to maintain Coinsilium's rapid growth trajectory.

 

The board continues to focus on delivering long term shareholder value and we will be providing the market with a comprehensive strategic business update early in the new year."

 

Further Information

 

Coinsilium has successfully raised GBP367,125 gross of expenses in a placing, through the issue of 9,178,125 Ordinary at a price of 4 pence per share from a new strategic investor and existing shareholders.  The placing price represents a premium of 23.1% to the market close price on 11 December 2018.

 

Each placing share has an attaching warrant to subscribe for a further new ordinary share at an exercise price of 7.5p ("Warrants"), valid for two years from the date of this announcement.

 

The issued warrants will also have an accelerator clause, for the full two-year term, whereby in the event the share price of the Ordinary Shares reaches a 5 day Volume Weighted Average Price of a minimum of 15 pence bid-price per share, the Company will have the right to require that the warrants be exercised and issued in full.

 

Total Voting Rights

 

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, Coinsilium hereby announces that following the issue of the 9,178,125 new ordinary shares it has 126,814,235 ordinary shares of nil par value ("Ordinary Shares") in issue, each share carrying the right to one vote, and 5,850,000 Ordinary Shares held in treasury. There is a total of 132,664,235 Ordinary Shares in issue.

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

For further information, please contact:

 

 

Coinsilium Group Limited

 

Malcolm Palle, Executive Chairman                                               +44 (0) 7785 381089

 

Eddy Travia, Chief Executive Officer                                              +44 (0) 20 3889 4312

 

www.coinsilium.com

 

 

Peterhouse Capital Limited                 +44 (0) 207 469 0930

 

Guy Miller / Mark Anwyl                        

(NEX Exchange Corporate Adviser)

 

 

SI Capital Limited                   +44 (0) 1483 413 500

Nick Emerson                                                                             

(Broker)

 

 

Notes to Editors:

 

Coinsilium is a blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers.  Coinsilium's focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.

 

Through its advisory division, Coinsilium also provides strategic services to companies planning Token Generation Events.

 

Coinsilium shares are traded on NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.

 

For further information please visit www.coinsilium.com

 



ISIN: VGG225641015
Category Code: MSCU
TIDM: COIN
Sequence No.: 6852
EQS News ID: 756967

 
End of Announcement EQS News Service

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