Supernova Digital - Related Party Transaction
24/05/2024 17:00
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RNS Number : 9036P Supernova Digital Assets PLC 24 May 2024
Press Release
24 May 2024
Supernova Digital Assets PLC
("Supernova" or "the Company")
Related Party Transaction
Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana
ecosystem, announces that, as a result of the acquisition of the entire issued
share capital of IO+ PTE Ltd ("IO+"), a company in which Supernova held a
minority interest, by Flex Labs Inc (AQSE: FLEX), Supernova has been issued
771,930 Common Shares in Flex Labs Inc.
As Mike Edwards is a director of both Supernova and Flex Labs, the above
transaction is deemed to be a related party transaction under the Aquis Rules.
Having exercised reasonable care, skill and diligence, the directors
(excluding Michael Edwards) consider that the terms of the Share Purchase
Agreement entered into with Flex Labs are fair and reasonable as far as the
shareholders of the issuer are concerned.
The Directors of Supernova Digital Assets PLC take responsibility for this
announcement.
For further information please contact:
Supernova Digital Assets
Michael Edwards Via First Sentinel
Executive Chairman +44 7858 888 007
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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