Phoenix Digital Assets PLC Related Party Transaction
25 May 2024 - 2:00AM
RNS Regulatory News
RNS Number : 9042P
Phoenix Digital Assets PLC
24 May 2024
Press Release
24 May 2024
Phoenix Digital Assets
PLC
("Phoenix" or "the Company")
Related Party
Transaction
Phoenix (AQSE: PNIX), an investment
firm, announces that, as a result of the acquisition of the entire
issued share capital of IO+ PTE Ltd ("IO+"), a company in which
Phoenix held a minority interest, by Flex Labs Inc (AQSE: FLEX),
Phoenix has been issued 17,368,421 Common Shares in Flex Labs
Inc.
As Mike Edwards is a director of
both Phoenix 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 Phoenix Digital
Assets PLC take responsibility for this
announcement.
For further information please
contact:
|
Phoenix Digital Assets
|
|
|
Jonathan Bixby
Executive Chairman
|
+44
7876 888 011
|
|
First Sentinel
|
|
|
Corporate Adviser
Brian Stockbridge
|
+44 7858 888
007
|
About Phoenix:
Phoenix Digital Assets
PLC invests in a diversified portfolio of cryptocurrency,
and/or in companies or funds which have exposure to NFT or
blockchain technology. The Company's leadership team have an
extensive track record in the cryptocurrency sector and previously
founded Argo Blockchain PLC, a global crypto miner. Phoenix is
headquartered in London, UK and its shares are listed on the Aquis
Stock Exchange Growth Market under the ticker symbol
PNIX. https://www.getphoenix.co.uk
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END
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