REG - Online Blockchain - Corporate Update

Online BlockchainAnnouncement

16/11/2023 10:30

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RNS Number : 7111T  Online Blockchain PLC  16 November 2023

For immediate release

 16 November 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") for a total consideration of
£71,377.

 

Since the last published announcement of OBC's interest in ADVFN published on
15 May 2023, OBC has sold in aggregate 475,000 ADVFN ordinary shares at an
average price of 15.03p per ADVFN ordinary share. The total sales proceeds of
£71,377 (before expenses) will be used by OBC for general working capital
purposes.

 

OBC is now interested in 3,050,938 ADVFN ordinary shares representing 6.63% of
the issued share capital of ADVFN. Based on the last closing mid-market market
price per ADVFN ordinary share of 13.5p, this interest has a current market
value of approximately £411,876. 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 is Synthia, the whole-life AI Assistant being
developed by OBC utilising ElevenLabs' AI-powered text-to-speech models to
generate high quality, human-sounding dialogue, in addition to Umbria (where
OBC is an adviser) and the 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

 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 6.63% 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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