REG-Quantum Blockchain Technologies Plc: Receipt of Funds from Sipiem

Quantum Blockchain TechnologiesAnnouncement

04/06/2024 07:00

4 June 2024

 

Quantum Blockchain Technologies Plc
( “QBT” or “the Company”)

 

 

First Sipiem Settlement – Confirmation of receipt of funds

 

With reference to the Company’s earlier announcement dated 16 May 2024, the
Board of Quantum Blockchain Technologies (AIM: QBT) is pleased to confirm
that, with respect to the First Sipiem Settlement, the payment of €700,000
has now been completed.

 

The Company and CL17 also confirm that €170,000 has been paid to Sipiem’s
Receiver to complete the acquisition by CL17 of the Receiver’s right to
receive 30% of any further sums collected in connection with the claim (net of
legal fees).

 

Furthermore, the Receiver has released the €30,000 which was held in an
escrow account as part of the initial claim purchase agreement (as first
announced on 10 September 2019).

 

The Company would reiterate that despite its receipt in full, the €700,000
settlement remains subject to formal approval by the Venice Court of Appeal.
The interested parties have already filed a joint application with that Court
for this purpose.

 

 

Francesco Gardin, Executive Chairman of QBT, commented: “We are very
satisfied to have concluded this double negotiation with certain defendants
and the Receiver. It is a tangible result which provides us with further
strength to pursue the remaining judgment amount (€5.575 million plus
interest and adjustment for inflation) from the remaining Sipiem defendants,
without having to split any future recovered sum with any other party.”

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

For further information please contact:

 

Quantum Blockchain Technologies Plc
Francesco Gardin, CEO and Executive Chairman  +39 335 296573

 

SP Angel Corporate Finance (Nominated Adviser & Broker)
Jeff Keating   +44 (0)20 3470 0470
Kasia Brzozowska

 

Leander (Financial PR)
Christian Taylor-Wilkinson   +44 (0) 7795 168 157

 

 

About Quantum Blockchain Technologies Plc

 

QBT (AIM: QBT) is an AIM listed investment company which has recently
realigned its strategic focus to technology related investments, with special
regard to Quantum computing, Blockchain, Cryptocurrencies and AI sectors. The
Company has commenced an aggressive R&D and investment programme in the
dynamic world of Blockchain Technology, which includes cryptocurrency mining
and other advanced blockchain applications.



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