Valereum PLC Update on GSX Acquisition (8208G)
July 21 2023 - 5:56AM
UK Regulatory
TIDMVLRM
RNS Number : 8208G
Valereum PLC
21 July 2023
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 31(st) 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 GBP750,000.
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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END
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July 21, 2023 05:56 ET (09:56 GMT)
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