Issue of Equity, Appointment of Broker

RNS Number : 4158B

Online Blockchain PLC

10 January 2018

 

For immediate release

10 January 2018

Online Blockchain PLC

 ("OBC" or the "Company")

Issue of Equity

Appointment of Broker

The Board of OBC announces that the Company has today conditionally raised £1,000,000 (before expenses) following the placement of 1,000,000 new Ordinary Shares of 5p each ("New Ordinary Shares") at 100p ("Placing Price") per New Ordinary Share (the "Placing"). The new Ordinary Shares represent 13.05 per cent. of the current issued ordinary share capital of the Company.  The New Ordinary Shares will rank pari passu with the existing Ordinary Shares. Application will be made for admission of the New Ordinary Shares to trading on AIM and it is expected that admission will become effective and that dealings in the New Ordinary Shares will commence on or around 17 January 2018.

The proceeds of the Placing will be used to provide general working capital for the Company and to provide additional resources to invest further in the development of block-chain projects as and when they arise. As previously announced in December, following testing within the ADVFN community, the PlusOneCoin wallet, which was built on software developed by OBC, was initially launched to ADVFN members. PlusOneCoin is designed as a social media cryptocurrency to allow social media users to interact and "up vote" content of other social media. The OBC developed wallet is now being used by ADVFN members and PlusOneCoin is listed on the Tradesatoshi cryptocurrency platform. OBC plans to develop and introduce further functionality to the PlusOneCoin wallet.

The Company has also today appointed Smaller Company Capital Ltd as joint broker to the Company.

Following Admission, for the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), OBC will have 8,662,348 Ordinary Shares in issue with voting rights attached (one vote per Ordinary Share). The Company does not hold any shares in treasury. This figure of 8,662,348 Ordinary Shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Michael Hodges, Director.

A copy of this announcement is available on the Company's website, at www.onlineblockchain.io

Enquiries:

For further information please contact: 

Online Blockchain PLC Michael Hodges	[phone]
Beaumont Cornish Limited (Nominated Adviser) www.beaumontcornish.com
Roland Cornish/Michael Cornish	[phone]
Smaller Company Capital Limited (Broker to the placing)	[phone]
Jeremy Woodgate
Cassiopeia Ltd (Investor Relations) Stefania Barbaglio	[e-mail]

ENDS

 

END

 

 

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