Supernova Digital - Quarterly Trading Update
11/04/2024 09:30
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RNS Number : 2743K Supernova Digital Assets PLC 11 April 2024
This announcement contains information which, prior to its disclosure, was
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11 April 2024
Supernova Digital Assets PLC
("Supernova" or "the Company")
Quarterly Trading Update
Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana
ecosystem, is pleased to provide the following quarterly trading update
regarding its unaudited net asset value.
The Company had the following unaudited major assets as at 3 April 2024:
1) 27,116 Solana tokens
2) 30,000,000 ordinary shares in Phoenix Digital Assets plc
3) 76,332,000 ordinary shares in Streaks AI plc
4) Cash at hand
As at 3 April 2024, the unaudited net asset value of the above was £5.86m
which equated to 0.36p per share.
Proposed return of value to shareholders
As previously announced, the Company intends to return value to shareholders
by way of a share tender offer under which the shareholders would have the
opportunity to sell shares on a pro-rated basis. A purchase of shares by
tender offer would be subject to both shareholder approval and the consent of
the Court to a reduction of capital required to create distributable reserves.
Michael Edwards, Executive Chairman of Supernova Digital Assets,
commented: "Our focus has always been on maximising shareholders return and
it has become clear that a commitment to returning capital in the best
strategy for all shareholders. We are delighted by our timing and the
subsequent positioning of our crypto treasury which is now a majority invested
in liquid crypto assets like Phoenix Digital Assets (PNIX) and SOL. We remain
in service to maximising shareholder return and will keep the market regularly
updated moving forward towards the PNIX tender offer."
The Directors of Supernova Digital Assets PLC take responsibility for this
announcement.
For further information please contact:
Supernova Digital Assets
Michael Edwards +44 7858 888 007
Executive Chairman
First Sentinel
Corporate Adviser +44 7858 888 007
Brian Stockbridge
About Supernova Digital Assets:
The Company will look to identify investment and business building
opportunities in the high growth Solana and crypto currency ecosystem. The
Board intends to deploy the majority of the Company's cash resources in the
acquisition of minority interests in a number of different, yet to be
identified, companies in the broad Solana and crypto currency ecosystem, and
to apply expertise to the business operations and strategic plans of these
companies. The experience, operational skills and contacts of the Board are
intended to act as an accelerator to start-ups and early-stage companies to
maximise their profit opportunity. It is anticipated that returns to
Shareholders will be delivered through a combination of an appreciation in the
Company's share price and through the adoption of a progressive dividend
policy. The Company's Directors have an established track record, experience
and networks in the crypto currency sector, digital assets management, as well
as the media industry to drive value creation.
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