Board changes
23/06/2022 07:00
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RNS Number : 8787P AQRU plc 23 June 2022
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Press Release
23 June 2022
AQRU PLC
("AQRU" or "the Company")
Board changes
Update on AQRU.io platform
AQRU plc (AQSE: AQRU), an incubator specialising in decentralised finance
("DeFi"), announces today the following board changes.
Dr Philipp Kallerhoff, chief investment officer of AQRU, will be joining the
board as executive director subject to completion of the requisite regulatory
procedures. Dr Kallerhoff has a wealth of experience in the DeFi sector,
having founded DeFi Yield Technologies Inc., a platform that provides users
with easy access to decentralised finance and that was acquired by AQRU in
October 2021. Moreover, Dr Kallerhoff has a successful track-record in
managing hedge funds across asset classes, including the management of the
DeFi hedge fund for Protos Asset Management, a Swiss provider of
cryptocurrency and DeFi exposure.
Misha Sher and Timothy Le Druillenec, non-executive directors of the Company,
will be stepping down from the board with immediate effect to devote more time
to their other business commitments.
Update on AQRU.io platform
The Company provides the following update on the AQRU.io platform operated by
its wholly owned subsidiary Accru Finance Ltd. ("Accru Finance"). Assets in
the AQRU.io platform have decreased to US$13 million. Customer sign-ups to the
platform have risen to over 25,000 as at 22 June.
The reduction in platform assets is attributable to adverse market conditions
and a fall in the price of cryptocurrencies. Other factors that impacted
platform assets included the Company's decision to reduce the rates of
interest offered on AQRU.io to manage risk for investors. The Company
anticipates that it will be able to increase yields offered on the platform as
the market recovers.
The Directors of AQRU plc take responsibility for this announcement.
For further information, please contact:
AQRU
Philip Blows via Tancredi +44 207 887 7633
Chief Executive
Tennyson Securities
Corporate Broker
Peter Krens +44 207 186 9030
Novum Securities
AQSE Corporate Adviser +44 207 399 9400
David Coffman / Lucy Bowden
Broker
Colin Rowbury / Jon Belliss
Tancredi Intelligent Communication
Media Relations
Gabriela Amaya Garcia +44 7915 035 294
Charlie Hobbs +44 7897 557 112
aqru@tancredigroup.com (mailto:aqru@tancredigroup.com)
About AQRU PLC:
AQRU is an incubator specialising in opportunities in decentralised finance
(DeFi), a disruptive technology using blockchain and cryptocurrencies to
remove financial intermediaries from transactions, creating a cheaper, more
efficient and more secure way of providing financial services. Listed on the
Aquis Exchange in London, we apply our expertise to the business operations
and strategic plans of FinTech companies in the UK, USA and Canada, and act as
an accelerator for start-ups and early-stage companies. www.aqruplc.com
(http://www.aqruplc.com)
Notes:
This document contains forward-looking statements which are subject to known
and unknown risks and uncertainties because they relate to future events, many
of which are beyond the Company's control. These forward-looking statements
include, without limitation, statements in relation to the Company's financial
outlook and future performance. No assurance can be given that future results
will be achieved; actual events or results may differ materially as a result
of risks and uncertainties facing the Company.
You are cautioned not to rely on these forward-looking statements, which speak
only as of the date of this announcement. The Company undertakes no obligation
to update or revise any forward-looking statement to reflect any change in its
expectations or any change in events, conditions or circumstances. Nothing in
this document is or should be relied upon as a warranty, promise or
representation, express or implied, as to the future performance of the
Company or the Group or their businesses.
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