Online Blockchain PLC Stmnt re Share Price Movement (3003K)
31 December 2020 - 10:35PM
UK Regulatory
TIDMOBC
RNS Number : 3003K
Online Blockchain PLC
31 December 2020
For immediate release
31 December 2020
Online Blockchain PLC
("Online" or the "Company")
Share price movement
The Board of Online Blockchain plc (LSE: OBC) notes the recent
rise in the Company's share price and trading volumes.
As previously announced, the Company recently raised GBP0.4
million (before expenses) by way of a placing of 1,818,181 new
Ordinary Shares through Monecor (London) Limited trading as ETX
Capital and the new ordinary shares were admitted to trading on AIM
on 24 December 2020. The Company intends to use the proceeds of the
placing to fund the development and launch of crypto and
blockchain-based products (which as previously reported are in the
earlier stages of development), including a new development project
in decentralised finance ("DeFi") of a DeFi protocol, Umbria, which
the Company hopes to commence beta-testing in the first quarter of
2021. Umbria's objective is to enable user-friendly swapping
between pairs of crypto-assets by interfacing with existing
third-party DeFi protocols such as Uniswap, Sushiswap and
Yearn.
Shareholders should note that the development of Umbria is at
the pre-beta testing stage of development and therefore it is too
early to determine how it may develop. Other than the placing
announced on 18 December 2020, there have been no other corporate
developments since the publication of the final results on 10
November 2020. Further updates will be provided as and when
appropriate in due course.
A copy of this announcement is available on the Company's
website at: www.onlineblockchain.io .
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. The person who arranged for the
release of this announcement on behalf of the Company was Clement
Chambers, Director.
Enquiries:
For further information please contact:
Online Blockchain PLC
Clement Chambers +44 20 3868 670203
Beaumont Cornish Limited (Nominated Adviser)
www.beaumontcornish.com +44 (0) 207 628 3396
Roland Cornish/Michael Cornish
Throgmorton Street Capital (Joint Broker) +44 (0)203 0112 309
Monecor (London) Ltd (Joint Broker)
E lliot Hance +44 (0)207 392 1436
Cassiopeia Ltd (Investor Relations) stefania@cassiopeia-ltd.com
Stefania Barbaglio
About Online Blockchain plc (LSE: OBC)
Online Blockchain ( www.onlineblockchain.io ) is a UK-based
incubator and developer of businesses in internet and
information-based technologies, including developers,
administrators and custodians of blockchains and cryptocurrencies.
The Company created ADVFN www.advfn.com and has a holding of 17.98%
in ADVFN plc.
Online Blockchain plc continues to consider new related
opportunities and particularly crypto currencies and
blockchain-based opportunities including incubating cryptocurrency
start-ups and developing technical innovation in the blockchain
space.
Glossary
"blockchain" is a distributed public digital ledger in which
transactions are recorded chronologically
"cryptocurrency" is a digital currency in which encryption
techniques are used to regulate the generation of units of currency
and verify the transfer of funds, operating independently of any
central bank
ENDS
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END
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