COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

Fundraising and Trading Update



Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that it has successfully raised £187,985 gross of expenses through the issue of 18,798,500 ordinary shares of no par value (“Ordinary Shares”) at a price of 1 pence per share (the “Subscription”) mainly supported by existing shareholders and all current directors. The funds raised will be utilised for general working capital purposes and for new initiatives within the blockchain sector.

Current Trading and Outlook

Since the beginning of the year, Coinsilium has seen material increases in the valuations of some of its principal investments, notably Factom and SatoshiPay, to date and the Directors are optimistic that this growth trend in the value of the Company’s investment portfolio will continue.

Moving forwards, the Company will be taking a more proactive stance and is currently reviewing a number of potential commercial opportunities to further expand the business in an innovative, yet cost effective manner.

As awareness of Blockchain technologies reaches the mainstream and broader market, the Company’s prime near-term objective is to significantly advance Coinsilium's profile and raise investor awareness of the Company’s activities. Coinsilium is a rarity in London, being a quoted company dedicated to Blockchain and as such there are few opportunities for investors to engage in this space. As a result, the Board firmly believes that the Company is well positioned to leverage its early mover advantage, its notable industry profile and connection network to deliver shareholder value.

Eddy Travia, Chief Executive Officer of Coinsilium stated:

“We are delighted to see the continued support of our existing shareholders and all current directors in the current fundraising.

“Businesses worldwide are now starting to recognise the potential of blockchain technologies and their capacity to improve lives and generate significant cost savings through enhanced business efficiencies. We also fully expect Blockchain technologies to open up numerous new commercial opportunities. With that impact comes the chance for Coinsilium to generate asymmetric returns from making early stage investments in some of the most viable Blockchain opportunities. We look forward to announcing some of the new initiatives we have planned over the coming weeks."

 

Directors’ participation in the fundraising:

Director Number of Ordinary Shares at 1 pence Amount subscribed
Eddy Travia 1,000,000 £10,000
Malcolm Palle 2,500,000 £25,000
Tony Sarin 1,000,000 £10,000

 

On completion of the Subscription, the Company is aware of the following disclosable interests in the share capital of the Company:

Name Number of Ordinary shares Percentage interest in enlarged issued share capital
Cosmic Bridge Ltd 11,791,176 13.08
Eddy Travia* 6,477,913 7.18
Malcolm Palle* 6,277,921 6.96
Rockridge Investments 5,500,000 6.10
Hakim Mamoni 5,352,913 5.94
Malcolm Burne 5,200,000 5.77
Cameron Parry 4,877,921 5.41
Michael Joseph 3,914,555 4.34
Aden Partners Ltd 3,282,001 3.64
Tony Sarin* 2,285,714 2.54

* Director of the Company

 

In addition to the Subscription, the Directors of the Company have resolved to issue Ordinary Shares in lieu of fees for services to the Company (the “Fee Shares”), for the period to end 31 March 2017, as follows:

Name Fee Shares
Tony Sarin* 500,000
Malcolm Palle* 500,000
Others 929,000

* Director of the Company

 

The issue of shares in lieu of fees enables the Company to keep its cost base to a minimum, preserving cash for investment activities.

Following the issue of the Subscription shares and the Fee Shares, the interests of the Directors of the Company are:

Director Number of Ordinary Shares Percentage interest in enlarged issued share capital
Eddy Travia 6,477,913 7.03
Malcolm Palle 6,777,921 7.36
Tony Sarin 2,785,714 3.02

 

Following the issue of the 20,727,500 Ordinary Shares, the Company has 92,090,103 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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

 

For further information please contact:

Eddy Travia, CEO
Coinsilium Group Limited
+44 (0) 207 099 0740
www.coinsilium.com

Malcolm Palle, Non-executive Director
Coinsilium Group Limited
+44 (0) 7785 381089

Luther Pendragon Ltd
Harry Chathli, Ana Ribeiro, Alexis Gore
+44 (0) 207 618 9100

Guy Miller / Mark Anwyl
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)
+44 (0) 207 469 0930

Nick Emerson / Andy Thacker
SI Capital Limited
(Broker)
+44 (0) 1483 413 500

 

Notes to Editor

Coinsilium is an accelerator that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.

Coinsilium shares are traded on NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.

For further information please visit www.coinsilium.com