TIDMQBT 
 
12 November 2021 
 
                      Quantum Blockchain Technologies Plc 
 
                           ("QBT" or "the Company") 
 
                          Sipiem Court Hearing Update 
 
The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to update 
shareholders on the latest hearing regarding the legal action started by Sipiem 
SpA ("Sipiem"), which was subsequently acquired by Clear Leisure 2017 
("Plaintiff"), against Sipiem's previous board and internal audit committee, 
held before the Venice Court ("Court") on 10 November 2021. 
 
As announced on 28 May 2021, and subsequently on 22 September 2021, the Court 
rescheduled the hearing to 10 November 2021 and such a hearing was called to 
verify the correct restart of the proceedings and the discussion over the Court 
appointed independent expert's Report ("Report"). 
 
As a result, the Judge verified the correct resumption of the proceedings and 
decided on the following matters: 
 
  * Granted Plaintiff's request to file additional relevant documentation, 
    which gives evidence of further damages up to ?1 million, which the Court 
    appointed independent expert did not take into consideration when arriving 
    at the economic value of the damages in his Report and therefore to be 
    added on top of the Report's economic value of the damages. 
 
  * Granted Plaintiff's request to review a former Court's decision and, as a 
    consequence, ordered one of the defendants to disclose and file documents 
    regarding an alleged illicit transaction orchestrated by some defendants 
    and the involvement of Sipiem and one of Sipiem's investees. 
 
  * Rejected a request by some defendants to file an additional document. 
 
  * Fixed another hearing for 12 January 2022 to verify that the defendant 
    complied with the aforementioned Court order of disclosure. At the same 
    hearing, the Court will grant further brief terms for the parties to file 
    their specific comments on conclusions reached by the Report and to the 
    Court appointed expert witness to file his replies. 
 
The Company will make further updates to shareholders as appropriate. 
 
Francesco Gardin, CEO and Chairman of QBT, commented, "We are extremely pleased 
with the outcome of the hearing, as the Court has paved the way for the filing 
of important written evidence in support of the claim against Sipiem's previous 
board and internal audit committee. The Company looks forward with increasing 
confidence to the conclusion of this legal claim, whilst continuing to focus on 
its new research and development programme and related ventures." 
 
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 
              +39 335 296 573 
 
SP Angel Corporate Finance 
 
(Nominated Adviser & Broker) Jeff Keating 
        +44 (0)20 3470 0470 
 
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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

November 12, 2021 02:00 ET (07:00 GMT)

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