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COINSILIUM GROUP LIMITED Coinsilium Group Limited: Exercise of Warrants

Transparency directive : regulatory news

02/03/2021 17:16

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Exercise of Warrants

02-March-2021 / 16:16 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


COINSILIUM GROUP LIMITED

 

("Coinsilium" or the "Company")

 

Coinsilium Group Limited: Exercise of Warrants

 

London, UK, 2 March 2021 - Coinsilium Group Limited (AQSE:COIN) (OTCQB:CINGF) the Blockchain and Open Finance venture builder, is pleased to announce that it has received notice from IOV Labs Limited (IOV) of the early exercise of warrants over 5,500,00 new ordinary shares in the Company at a price of 4.5p for a total consideration of GBP247,500.

 

IOV Labs, Coinsilium's largest shareholder, is a Gibraltar registered company and parent to RSK, the first smart contract platform secured by the Bitcoin network and RSK Infrastructure Framework (RIF).

 

On 4 December 2020 the Company announced that IOV had subscribed for 11,000,000 new Coinsilium ordinary shares at a price of 3p per share, investing GBP330,000 in a private placement. Under the terms of the private placement, IOV was awarded warrants over 5,500,000 ordinary shares, representing one warrant for every two shares subscribed for, with an exercise price of 4.5p per new ordinary share and a life to expiry period of two years from the date of admission.

 

Following the exercise of the warrants, IOV Labs shareholding in Coinsilium increases from 20,434,000 to 25,934,000 ordinary shares representing an interest of 16.85% of the Company's outstanding shares, excluding warrants and treasury shares.  Following the exercise and issue of the 5,500,000 new ordinary shares, there will be 153,918,235 ordinary shares of nil par value ("Ordinary Shares") in issue and 4,680,000 Ordinary Shares held in treasury. There is a total of 158,598,235 Ordinary Shares in issue. Application will be made to admit the warrant exercise shares to trading on AQSE Growth Market, which is expected to occur on or about 9 March 2021.

 

Given the early exercise of the IOV warrants, approximately 21 months prior to expiry, the Company has agreed to award IOV with 5,500,000 replacement warrants exercisable at a price of 12p per share valid for two years from the date of this announcement.

 

The replacement warrants will have an accelerator clause, for the full two-year term, whereby should the Company's volume weighted average share price exceed 24p for 5 consecutive trading days, the Company may at any time write to the warrant holder providing 10 working days' notice of accelerated exercise, with 10 working days thereafter for payment.

 

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

 For further information, please contact:

 

Coinsilium Group Limited

Malcolm Palle, Executive Chairman

Eddy Travia, Chief Executive

+44 (0) 7785 381 089

www.coinsilium.com

 

 

Peterhouse Capital Limited

Guy Miller / Mark Anwyl

(AQSE Growth Market Corporate Adviser)

+44 (0) 207 469 0930

 

 

SI Capital Limited

Nick Emerson

(Broker)

+44 (0) 1483 413 500

 

 

Notes to Editor

 

About Coinsilium

 

Coinsilium is a focused Blockchain and Open Finance venture builder. As the first ever IPO of a blockchain company in 2015, Coinsilium has harnessed its experience and wide-ranging network to invest in leading blockchain projects such as RSK/IOV Labs, Indorse and Blox.

 

In July 2020, Coinsilium executed an agreement with top 100 blockchain protocol company IOV Labs, to establish a 50/50 Joint Venture Company in Singapore to promote and commercialise RSK's products, services and technologies in global markets and to promote the adoption in the region of the RIF token which powers the ecosystem of solutions developed by RSK, their partners and developers around the world.

 

Coinsilium shares are traded on the London-based AQSE Growth Market, under the ticker symbol "COIN", and on OTCQB Venture Market ("OTCQB") in New York under the ticker symbol "CINGF".

 

For further information please visit www.coinsilium.com or follow

@CoinsiliumGroup on Twitter

 



ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 94682
EQS News ID: 1172565

 
End of Announcement EQS News Service

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