REG - Online Blockchain - Corporate update

Online BlockchainAnnouncement

15/05/2023 16:15

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RNS Number : 4671Z  Online Blockchain PLC  15 May 2023

For immediate release

 15 May 2023

 

Online Blockchain PLC

("Online" or the "Company")

Corporate Update

 

The Board of Online Blockchain plc (LSE: OBC) announces that the Company has
sold part of its interest in ADVFN plc ("ADVFN") in a series of market sales
for a total consideration of £256,340.

 

Since the last published announcement of OBC's interest in ADVFN published on
29 March 2023, OBC has sold in aggregate 1,055,000 ADVFN ordinary shares at an
average price of 24.3p per ADVFN ordinary share. The total sales proceeds of
£256,340 (before expenses) will be used by OBC for general working capital
purposes.

 

OBC is now interested in 3,525,938 ADVFN ordinary shares representing 7.7% of
the issued share capital of ADVFN. Based on the last closing mid-market market
price per ADVFN ordinary share of 24.5p, this interest has a current market
value of approximately £863,855. As set out in OBC's last interim report,
 the Company no longer has significant influence over ADVFN and therefore its
interest in ADVFN is treated as an arm's length investment.

 

The principal focus of OBC remains on the development of Umbria (where OBC is
an adviser) and the planned launch of the new non-fungible token ("NFT")
project based on The Rocky Horror Show.

 

A copy of this announcement is available on the Company's website at:
www.onlineblockchain.io (http://www.onlineblockchain.io/) .

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. The person who arranged for the release of this announcement on
behalf of the Company was Clement Chambers, Director.

Enquiries:

For further information please contact:

 Online Blockchain PLC                                         +44 20 3868 670203

 Clement Chambers

 Beaumont Cornish Limited (Nominated Adviser)                +44 (0) 207 628 3396

 www.beaumontcornish.com (http://www.beaumontcornish.com/)
 Roland Cornish/Michael Cornish

 Throgmorton Street Capital  (Broker)                        +44 (0)203 0112 309

 Cassiopeia Ltd (Investor Relations)                         stefania@cassiopeia-ltd.com (mailto:stefania@cassiopeia-ltd.com)

 Stefania Barbaglio

 
About Online Blockchain plc (LSE: OBC)
Online (
www.onlineblockchain.io (http://www.onlineblockchain.io/)
) is a UK-based incubator and developer of businesses in internet and information-based technologies, including developers, administrators and custodians of blockchains and cryptocurrencies. The Company founded ADVFN www.advfn.com and has a remaining holding of 7.7% in ADVFN plc.
 
Online  continues to consider new related opportunities and particularly crypto currencies and blockchain-based opportunities including incubating cryptocurrency start-ups and developing technical innovation in the blockchain space.
 
Glossary
 

"blockchain" is a distributed public digital ledger in which transactions are
recorded chronologically

 

"cryptocurrency" is a digital currency in which encryption techniques are used
to regulate the generation of units of currency and verify the transfer of
funds, operating independently of any central bank

 

 

ENDS

 

 

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