Q4 Crypto Holdings Trading Update
02/01/2024 07:00
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RNS Number : 2720Y NFT Investments PLC 02 January 2024
Press Release
2 January 2024
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
NFT Investments PLC
("NFT Investments" or "the Company")
Q4 Crypto Holdings Trading Update
NFT Investments (AQSE: NFT), an investment firm, announced on 20 March
2023 its intention to publish Quarterly Trading Updates in advance of the
liquidation of its Crypto holdings and to return value to its shareholders by
way of a tender offer for its shares following the next BTC halving (expected
in April 2024).
In its circular dated 11 April 2023, the Company also stated that the price at
which the Company might purchase its ordinary shares would not be less than
the nominal value of an ordinary share and would be not more than the greater
of 3.5p (being the net asset value of the Company per share as at 6 April
2023) and an amount equal to the net asset value of the Company per share as
announced by the Company on a Regulatory Information Service from time to
time. The directors of NFT have now resolved that the price at which the
Company will purchase its ordinary shares will be an amount equal to the net
asset value of the Company per share as announced by the Company on a
Regulatory Information Service from time to time. The Company will proceed
with the tender offer following the Bitcoin halving (currently anticipated to
take place in April 2024) and before the end of 2024.
Crypto Holdings December 2023 Quarter Update
The Company has unaudited Crypto and Stablecoin assets with a valuation
of £43.8million (4.33p per share) as at 31 December 2023. The major
components of this are as follows:
Token
Quantity Valuation (£m)
Bitcoin BTC 623 20.5
Ethereum ETH 6,794 12.1
Solana SOL 86,396 6.9
Optimism OP 732,899 2.1
Lido Dao LDO 396,109 0.8
Cosmos ATOM 57,902 0.5
Near Protocol NEAR 225,362 0.6
Iron Fish IRON 60,938 0.1
Stablecoins USDT/USDC 203,220 0.2
Total Company NAV December 2023 Quarter Update
The Company has unaudited Crypto, Stablecoin, Cash and Equity Investments with
a valuation of £47.1m (4.67p per share) as at 31 December 2023. The
components are as follows:
Crypto and Stablecoins £43.8m
Cash £0.3m
Equity Investments £3.0m
The Company's current share price of 2.65p represents a 39% discount to its
current unaudited Crypto & Stablecoin valuation and a 43% discount to its
current unaudited Total NAV
The Directors of NFT Investments PLC take responsibility for this
announcement.
For further information please contact:
NFT Investments
Jonathan Bixby +44 7876 888 011
Executive Chairman
First Sentinel
Corporate Adviser +44 7858 888 007
Brian Stockbridge
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
About NFT Investments:
NFT Investments PLC invests in a diversified portfolio of cryptocurrency,
and/or in companies or funds which have exposure to NFT or blockchain
technology. The Company's leadership team have an extensive track record in
the cryptocurrency sector and previously founded Argo Blockchain PLC, a
global crypto miner. NFT Investments is headquartered in London, UK and its
shares are listed on the Aquis Stock Exchange Growth Market under the ticker
symbol NFT. https://www.nftinvest.pro/ (https://www.nftinvest.pro/)
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