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27 Oct 2017 14:12
For immediate release
27 October 2017
ON-LINE PLC
("On-line" or the "Company")
Share price movement
The Board of On-line PLC (AIM: ONL), notes the significant share price movement today.
As announced yesterday, the Company has worked as an incubator and investor in internet and information businesses and the Company has been investigating the development of potential applications and customer markets. In particular, the Company has focused on information technology where On-line's links with ADVFN provide an opportunity to develop a Blockchain-based product to support financial website users' ratings of information contributors using token-based applications.
Shareholders should note that the while the Company has identified an initial product, the Company's development of a Block-chain product is still at an early stage of investigation and development, and its current plans envisage that the first application will only be tested early in 2018. The Company expects to announce its results for the year ended 30 June 2017 in November 2017. In the interim results for the six months ended 31 December 2016, the Company announced profit before tax of 12,000 and net borrowings of £49,000. The Company has a 17.98% per cent. interest in ADVFN plc, which based on the closing mid-market price of 39.5p per ADVFN share on 26 October 2017, is valued at £1.82 million. ADFVN reported a profit before tax of £214,000 for the year ended 30 June 2017.
The Company will make further announcements in due course to provide updates as appropriate on its progress in this sector.
More information on On-line can be found at: www.on-line.co.uk
For further information please contact:
ON-LINE PLC Clem Chambers, Director |
clemc@advfn.com
|
Beaumont Cornish Limited (Nominated Adviser) www.beaumontcornish.com | |
Michael Cornish | +44 (0) 207 628 3396 |
ENDS
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