Q4 Crypto Holdings Trading Update

NFT Investments PLC

02 January 2024

 

Press Release

2 January 2024

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

NFT Investments PLC

("NFT Investments" or "the Company")

Q4 Crypto Holdings Trading Update

NFT Investments (AQSE: NFT), an investment firm, announced on 20 March 2023 its intention to publish Quarterly Trading Updates in advance of the liquidation of its Crypto holdings and to return value to its shareholders by way of a tender offer for its shares following the next BTC halving (expected in April 2024).  

In its circular dated 11 April 2023, the Company also stated that the price at which the Company might purchase its ordinary shares would not be less than the nominal value of an ordinary share and would be not more than the greater of 3.5p (being the net asset value of the Company per share as at 6 April 2023) and an amount equal to the net asset value of the Company per share as announced by the Company on a Regulatory Information Service from time to time.   The directors of NFT have now resolved that the price at which the Company will purchase its ordinary shares will be an amount equal to the net asset value of the Company per share as announced by the Company on a Regulatory Information Service from time to time.  The Company will proceed with the tender offer following the Bitcoin halving (currently anticipated to take place in April 2024) and before the end of 2024.

Crypto Holdings December 2023 Quarter Update

The Company has unaudited Crypto and Stablecoin assets with a valuation of £43.8million (4.33p per share) as at 31 December 2023. The major components of this are as follows:

Token                                                                          Quantity                       Valuation (£m)

Bitcoin	BTC	623	20.5
Ethereum	ETH	6,794	12.1
Solana	SOL	86,396	6.9
Optimism	OP	732,899	2.1
Lido Dao	LDO	396,109	0.8
Cosmos	ATOM	57,902	0.5
Near Protocol	NEAR	225,362	0.6
Iron Fish	IRON	60,938	0.1
Stablecoins	USDT/USDC	203,220	0.2

Total Company NAV December 2023 Quarter Update

The Company has unaudited Crypto, Stablecoin, Cash and Equity Investments with a valuation of £47.1m (4.67p per share) as at 31 December 2023. The components are as follows:

Crypto and Stablecoins	£43.8m
Cash	£0.3m
Equity Investments	£3.0m

The Company's current share price of 2.65p represents a 39% discount to its current unaudited Crypto & Stablecoin valuation and a 43% discount to its current unaudited Total NAV

The Directors of NFT Investments PLC take responsibility for this announcement.

For further information please contact:

NFT Investments
Jonathan Bixby Executive Chairman	[phone]
First Sentinel
Corporate Adviser Brian Stockbridge	[phone]
Tennyson Securities
Corporate Broker Peter Krens	[phone]

About NFT Investments:

NFT Investments PLC invests in a diversified portfolio of cryptocurrency, and/or in companies or funds which have exposure to NFT or blockchain technology. The Company's leadership team have an extensive track record in the cryptocurrency sector and previously founded Argo Blockchain PLC, a global crypto miner. NFT Investments is headquartered in London, UK and its shares are listed on the Aquis Stock Exchange Growth Market under the ticker symbol NFT. https://www.nftinvest.pro/

 

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