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21 Jul 2023 10:56
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")
21 July 2023
Valereum Plc
("Valereum" or the "Company")
Update on Gibraltar Stock Exchange ("GSX") Acquisition
Valereum Plc, the Gibraltar technology group, is pleased to provide an update on the acquisition of the GSX.
We have agreed a revised timetable with the GSX and the Gibraltar Financial Services Commission ("GFSC") which provides an extended closing date of the 31st August 2023. The primary purpose of this is to ensure sufficient handover time to organise the closing process with the GSX and also to comply fully with GFSC requirements.
The payment for the second tranche of the GSX providing 100% ownership has been agreed at £750,000.
We have been pursuing financing in both UK and North America. We have a funding commitment from a fund in North America conditional only on the closing of their new fund. This is anticipated in the next few weeks.
Richard Poulden, Valereum's Chairman, said: "We remain committed to the creation of a Stock Exchange which can transform the financial services industry in Gibraltar. We look forward to the final stages to make this a reality".
The Directors of the Company accept responsibility for the contents of this announcement.
END
Enquiries:
Valereum Plc
Richard Poulden, Chairman
Tel: +971 4584 6284
AQSE Corporate Adviser
First Sentinel Corporate Finance
Brian Stockbridge
Tel: +44 (0) 7876 888 011
Investor Relations
J&H Communications Limited
George Hudson
Tel: +44 (0)7803 603130
george@j-hcommunications.com
For more information, please visit the Company's website at valereum.gi
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