Argo9 Jan 2021 15:46
Block chain plc was a vela group 2 asset according to rns (31.07.2020)which among several others was transferred to a subsidiary then sold to NEWCO for £1 with a £855k debt to vela on its balance sheet.This debt will be interest free for 7 years although this can be extended for another year.
As far as I can tell ,having only skimmed through the rns,certain shareholders /bondholders on the register at that time "own"the class 2 asset!
Gm on 24.08.2020 duly passed all resolutions and rns issued.
26.08.2020 vela shares suspension lifted .
If I have read this correctly we do not own Argo shares but my interpretation of the rns could be /is wrong!
I will leave it to the grown ups to thoroughly go through the rns,'s of that time period and give a proper appraisal!