BLOC.L Regulatory News (BLOC)

8th February 2019 

BLOCKCHAIN WORLDWIDE PLC

("Blockchain" or "the Company")

Withdrawal from acquisition and update re suspension of shares

The Company has decided not to continue with the proposed acquisition of Chorum Group Limited ('Chorum') announced on 7th November 2018. Political uncertainty has seen greatly reduced levels of activity in London's equity markets and, despite many positive indications, the Company was unable to successfully complete the fundraising for the acquisition. Chorum will now seek private funding, and application will be made to the FCA for a restoration of the Company's ordinary shares to the Official List.

Whilst the Company will continue to seek deals within the blockchain space, it will also consider other high growth opportunities with the wider technology sector. 

Rodger Sargent, CEO of Blockchain said, "Chorum is a top class company but the current climate within London's small-cap equity markets is extremely challenging. Costs on the aborted deal have been minimised and Directors continue to draw no salary; Blockchain retains net cash balances of over £1m.

We are already actively sourcing a new deal for when the markets are more stable and receptive to the exciting, high growth opportunities we are seeking."

This information contains inside information.

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