EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Share Buyback
Advanced Blockchain AG: Further Information on the Public Share Buyback Offer to Acquire up to 325,000 Shares
05.01.2023 / 10:17 CET/CEST
The issuer is solely responsible for the content of this announcement.
As already published with the ad-hoc announcement of January 5, 2023, the company submits a share buyback offer to its shareholders to acquire a total of up to 325,000 no-par value bearer shares of Advanced Blockchain AG, at a price of EUR 3.10 per share. The acceptance period ends on 24.01.2023, 12:00 CET.
Considering the eventful and successful year 2022, Advanced Blockchain AG has decided to make this offer to the shareholders due to the high difference between the stock market price and the intrinsic value of the holding portfolio.
In the past financial year, new digital web3 and blockchain business models were identified, designed, and developed into independent companies or projects using the company's own resources. In addition, the company developed new investment opportunities and has invested strategically in complementary technologies and companies worldwide.
The share repurchase is financed with own funds from, among other things, income from spin-offs of several incubations, whereby IP transfers were remunerated as well as reimbursements for expenses incurred during the incubation process.
Recurring revenues will enable the company to cover a significant portion of its ongoing costs this year. The company also has a good liquidity position to make new investments and incubations in the current fiscal year at favorable entry conditions. It is expected that the development of incubations and investments in decentralized technologies will continue, and the existing portfolio will develop positively when the markets recover.
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
05.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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