24 January 2025
Mindflair
plc
("Mindflair" or the "Company")
Infinite Reality Partners
with Nasdaq Private Market to Offer Secondary
Liquidity
Mindflair, the company investing in
next-generation technology focused on AI, notes the announcement
made by Infinite Reality ("iR") on 22 January 2025
("Announcement"). iR acquired Landvault, a portfolio company of the
first Sure Valley Ventures fund ("SVV1"), in July 2024 and so SVV1
now has a shareholding in iR. Key information from the Announcement
includes:
• iR has
agreed with Nasdaq Private Market (NPM) to establish a
company-sponsored secondary trading program and marketplace for its
private securities.
• The
program will offer eligible Infinite Reality shareholders,
including employees and investors, with access to NPM's trusted and
regulated marketplace and platform, providing a structured way for
eligible interested buyers and sellers to participate in secondary
transactions of its private shares.
• NPM brings
extensive experience to private company liquidity programs and
secondary trading, powering over $55 billion in transaction value
across its platform. The company has served a broad ecosystem of
more than 500 high-profile unicorns, startups, and other private
companies, as well as over 200,000 eligible participants. Through
its comprehensive platform, NPM delivers a range of private company
liquidity solutions - from tender offers and auctions to block
trades and customized company-controlled marketplaces.
Mindflair holds a 13% direct
interest in SVV1 and a 6.1% indirect interest via its holding in
Sure Ventures plc who in turn has a 25.9% holding in
SVV1.
Nicholas Lee, a Director of
Mindflair, said:
"As indicated in the Company's
announcement on 24 December 2024, various of the SVV1 portfolio
companies are actively looking at ways to provide a return to their
investors and the mechanism described above may provide such a
return in the case of SVV1's holding in iR. However, there is
currently limited additional information available as regards
value, timing and quantum but we will update shareholders further
as and when appropriate."
This announcement is not a
solicitation for an investment in iR nor does it reflect a
projection of future growth, profits, or other financial returns.
Any inquiries regarding iR should be directed to iR.
The Directors of the Company are
responsible for the release of this announcement. The person who
arranged for the release of this information is Nicholas Lee, a
director of the Company.
Enquiries:
|
Mindflair plc
Nicholas Lee, Director
|
Tel: +44 (0) 20 3368 8961
|
|
Joint broker
Peterhouse Capital
Limited
Duncan Vasey/Lucy
Williams
|
Tel: +44 (0) 20 7469 0935
Tel: +44 (0) 20 7469 0936
|
|
Joint broker
Shard Capital Partners
LLP
Damon Heath
|
Tel: +44 (0) 20 7601 6100
|
Notes to Editors
Mindflair plc (AIM: MFAI) is an
investment company providing investors with access to a portfolio
of next generation technology businesses focused on AI with
significant growth potential. The Company is building an investment
portfolio of high-tech businesses focused on Artificial
Intelligence, across such areas as Internet of Things, Cyber
Security, Machine Learning, Immersive Technologies and Big Data,
which the Board believes demonstrate evidence of traction and the
potential for exponential growth, due to increasing global demand
for development in these sectors. For further information, visit:
http://www.mindflair.tech/.
This communication is a "Reach"
announcement. Reach is a non-regulatory news service. By using this
service an issuer is confirming that the information contained in
this announcement is of a non-regulatory nature. Information
required to be notified under the AIM Rules for Companies, Market
Abuse Regulation or other regulation would be disseminated as an
RNS regulatory announcement and not on RNS Reach.
