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Quantum Exponential (QBIT)


Monday 01 November, 2021

Quantum Exponential

Admission to Trading on AQSE

RNS Number : 8222Q
Quantum Exponential Group PLC
01 November 2021



1 November 2021

Quantum Exponential Group Plc

 (the 'Company' or 'Quantum Exponential')


Admission to Trading on AQSE


First Day of Dealings


Quantum Exponential Group Plc, a company focused solely on investment opportunities in quantum technology and the wider quantum computing sector, is pleased to announce that trading in its Ordinary Shares will commence on the AQSE Growth Market (AQSE)   at 08:00 today, 1 November 2021, under the ticker "QBIT" and ISIN number GB00BLR8M858.

Fundraise information

The Company has been admitted to the Access segment of AQSE and the commencement of trading of the Company's Ordinary Shares follows a successful subscription and placing by Oberon Capital for a total of 55,945,000 Ordinary Shares at 5p per ordinary share, raising gross proceeds of c.£2.8 million (before expenses).  With the addition of a pre-IPO fundraise of £2.4 million, the Company has raised a total of approximately £5.2 million.

On Admission, the Company will have 328,375,000 Ordinary Shares in issue and the market capitalisation of the Company will be approximately £16.4 million.

Martin Schwedler, Chief Executive Officer of Quantum Exponential commented: "We are delighted to announce the successful completion of our admission to trading with today's listing on London's AQSE marking a major milestone for us.


"Quantum Exponential is focused on investing in the quantum technology sector. Our vision is to offer private and institutional investors access to this revolutionary technology and the companies that will benefit from this step-change in technological advancement. We expect strong returns can be generated from investing in world-class businesses at the forefront of this new technology. 


"I welcome new shareholders to the Company and thank them for their support. We will seek to make investments in our clearly defined target list of opportunities to build an initial portfolio of leading businesses at the forefront of quantum technology.


"The Company benefits from having a group of highly experienced board members and ably supplemented by market leading expertise from our advisory board as well. Between us all, we have unparalleled market knowledge and contacts to enable us to deliver our objectives. We are all excited to get going and deliver for all stakeholders in the near-term and longer-term future."





Company Highlights


· Quantum Exponential has assembled a strong board and management team of industry advisors, entrepreneurs, and technology investment professionals with unparalleled access to opportunities, networks and markets. It is supported by an Advisory Board consisting of renowned scientists, university professors and entrepreneurs.


· Quantum Exponential will be the first investment company focused solely on quantum technology - investing in quantum communications, quantum sensing, quantum metrology and quantum computing software and components - bringing deep technical know-how and expertise in this field coupled with unparalleled market access, professional portfolio selection and professional due diligence.


· Quantum Exponential's strategy is to assemble a portfolio of minority investments in leading global quantum technology companies, primarily in NATO allied countries:


§ More than 175 quantum companies screened and over 60 start-ups identified which potentially meet the Company's investment strategy;


§ Investment co-operation with Notion Capital, a leading VC technology investor;


§ The Directors intend to create an initial portfolio of between eight to ten investments, into which follow on investments are likely to be made;


§ Each single investment will have an expected value of between c. £100,000 to £500,000; and


§ The Company has secured an option to be transferred 199,993 ordinary shares in Arqit Quantum Inc., a company listed on NASDAQ with a market capitalisation of c. $2.6 billion as at close on business on 29 October 2021. This is directly in line with Quantum Exponential's strategy to assemble a portfolio of minority investments in early stage quantum technology companies.




For more information, please refer to the Company's AQSE Admission Document dated 27 October 2021 which is available on the Company's website:  

For further information please contact:

Martin Schwedler, Chief Executive Officer  c/o  +44 (0)207 236 1177

Novum Securities  (AQSE Corporate Adviser)

David Coffman / Lucy Bowden                                                                +44 (0)20 7399 9400

Oberon Capital (Broker)                                                                    +44 (0)20 3179 5344

Mike Seabrook, Chris Crawford, Robert Hayward

St Brides Partners Limited (Financial PR)

Catherine Leftley / Isabelle Morris                                                         +44 (0)207 236 1177


About Quantum Exponential Group Plc


Quantum Exponential is a first of its kind, Aquis Stock Exchange listed, investment company focused on opportunities in quantum technology and the wider quantum computing sector, with a highly capable advisory board made up of industry advisors, entrepreneurs, and technology investment professionals with broad access to quantum opportunities and markets. Quantum Exponential's investment strategy is to assemble a portfolio of minority investments in early-stage global quantum technology companies, primarily in NATO allied countries, offering institutional and private investors access to revolutionising technologies and industries in the realms of artificial intelligence, manufacturing and healthcare.


Board of Directors & Management

Ian Pearson, Non-Executive Chairman

Ian Pearson brings extensive business and public sector insight to the Board. During a distinguished ministerial career from 2001-2010 he held a number of positions including Minister for Trade & Foreign Affairs, Minister of State for Climate Change and the Environment, Minister for Science, and Economic Secretary to the Treasury.

He spent five years as the chairman of AIM listed Octopus VCT2, a company which invested in a variety of renewable energy companies. He is currently a non-executive director at Thames Water, chairman of AIM listed Eqtec plc, and has previously been a member of the UK Advisory Board of PwC.

Martin Schwedler, Chief Executive Officer

Martin Schwedler has more than 25 years' experience in private equity, M&A and corporate finance. He has completed more than 50 transactions worldwide in various industry sectors, with a focus on technology and telecom opportunities. Martin served as a director of the GE Capital Structured Finance Group with responsibility for private equity investments in technology and telecom in the German speaking countries. He served as an executive board member of Raiffeisen's investment banking unit in Vienna and as a CEO of Raiffeisen Investment in Moscow. Martin acted as a Senior Advisor to Lazard Freres with responsibility for originating and executing M&A transactions in Austria and Central and Eastern Europe. He is an advisor to Helios Investment Partners the largest private equity fund focussing on Africa. Martin holds a Master of Law degree from the University of Innsbruck.

Steven Metcalfe, Director & COO

Steven Metcalfe has more than 28 years of experience in investment banking. In 2005, as Head of UK Equities at Hichens Harrison he was involved in the management buyout from Sanlam for £2m and the subsequent sale to Religare Capital Markets 3 years later for £55m. After that, he moved to Novum Securities looking after institutions, hedge funds and HNW clients.

In 2016, he set up a management consultancy business advising on fund raisings, investor relations and improving performance within organisations. He has since sat on public company boards and worked on public company flotations and reverse takeovers. Steven is an associate of the Chartered Institute for Securities and Investments (ACSI).

Nigel McNair Scott, Non-Executive Director

Nigel McNair Scott  has wide corporate experience having served as non-executive director, finance director and finally chairman of Helical Bar over a period of 30 years.  He was chairman of Avocet Mining for 20 years before retiring to serve as High Sheriff of Hampshire. He also served as a non-executive director of Johnson Matthey and Govett Strategic Investment Trust.  Early in his career he had considerable experience within the Chartered Consolidated and Anglo-American Corporation Group.  He has been chairman of Reaction Engines since 2010.  Nigel graduated from Oxford University and is a Fellow of the ICAEW.

Stuart Nicol, Chief Investment Officer

Stuart Nicol will join the team as the head of the Investment Committee. Stuart has over 20 years' experience of investing venture capital in over 60 high growth firms. He has invested across all sectors and stages with a bias to technology investments in software, communications, healthcare and sustainability. Stuart runs his own consultancy business. In the past decade he has been the retained advisor to UN SDG accelerator Exeter Velocities, Head of Funds for Cornwall and Isles of Scilly Investment Fund and the first external director of Crowdcube Ltd. Prior to this as an Investment Director of Octopus Investments Stuart both led a team that invested over £110m through listed Venture Capital Trusts and initiated the Octopus renewable energy strategy. Stuart is an active mentor to entrepreneurs on behalf of the Royal Academy of Engineering & military charity heropreneurs. Stuart is a graduate of RMA Sandhurst, Loughborough University and London Business School.

Rodger Sargent, Company Secretary

Rodger Sargent is the Company Secretary and has been the founder and finance director of many quoted companies over the past twenty years, including Sports Internet Group plc, Audioboom Group plc and S4 Capital plc. He is currently CEO of AIM quoted All Active Asset Capital Limited. He previously ran the family office of Betfair founder, Andrew Black. He qualified as a chartered accountant with PwC, London in 1996.

Advisory Board

David Williams

David Williams is the founder of Arqit Quantum Inc., a quantum technology start-up which recently listed on NASDAQ. He was also the co-founder and CEO of Avanti, a start-up company which pioneered the use of Ka band satcoms to deploy a fleet of four high throughput geostationary telecom satellites serving EMEA. The company counted the British Government as its largest customer, for very high resilience, high security communications services. David served as Founder Chairman of the Advisory Board of Seraphim Space Ventures, a $100m high technology venture capital firm based in London, a project which he initiated UK Government support in 2014. Prior to this David was an investment banker, financing international telecoms businesses. David has a BA Hons Degree in Economics and Politics from the University of Leeds. David was granted the Queens Award for Export in 2015 and Quoted Company Entrepreneur of the Year award in 2006.

Dr. Tariq Ali

Dr. Tariq Ali is the Deputy Pro-Vice-Chancellor (Strategic Partnerships) at the University of Birmingham and a member of the Management Board of the UK Quantum Technology Hub for Sensors and Timing. He is a Trustee and member of Council at the UK Institute of Physics. Dr Ali has a PhD in astrophysics from Imperial College London and subsequently worked in quantum well solar cells and also experimental searches for dark matter. He has acted as an advisor to various government ministers, committees, and international entities as well as leading on corporate strategic partnerships.


Professor Kai Bongs

Dr. Kai Bongs is the principle investigator of the UK National Quantum Technology Hub for Sensors and Timing and Editor-in-Chief for the European Physical Journal (Quantum Technologies). Dr Bongs has over 25 years of experience in quantum physics with a PhD from Leibniz University Hannover, a postdoc on mobile quantum sensors at Yale University and a habilitation from Hamburg University, where he contributed to pioneering work bringing quantum technology into microgravity. In 2017, Dr Bongs received the Josiah Mason award for business advancement in recognition of his leadership of the Quantum Technology Hub for Sensors and Metrology. He has also been awarded the Institute of Physics Dennis Gabor Medal and Prize in 2019 for his contribution to the development of quantum sensors and translation to industrial applications, as well as the development of the UK quantum technology sensors and timing.

Dr. Rupert Ursin

Dr. Rupert Ursin is co-founder of qtlabs and group leader at the Institute of Quantum Optics and Quantum Information of the Austrian Academy of Sciences. His research focus is the development of quantum communication and quantum information processing technologies, especially for free space transmission up to satellites, but also for fiber-based systems. Aims of his work range from short-term engineering solutions for secure key partitioning (quantum cryptography) to speculative research (decoherence of entangled states in gravitational fields).

Katherine Courtney

Katherine Courtney is the former CEO of the UK Space Agency, and has over 20 years' experience in innovation, critical national infrastructure, and economic growth. She has led the UK government's National Identity Scheme Programme as well as other flagship programmes including the development of universal credit, the business growth service, and the UK small business commissioner, helping to steer four cross-cutting pieces of legislation through Parliament.

Dr. David Williams

Dr. David Williams is the executive director for the Government of Australia CSIRO Digital and National Facilities Group which includes leading research in Quantum Technology. He is the former CEO of UK Space Agency & is currently the CEO of the European Organisation for the Exploitation of Meteorological Satellites.

Dr. Justin Hill

Dr.Justin Hill is the head of patents for Europe at Dentons. He has been recognised by the leading independent legal directories as a leader in the field of intellectual property and is known as a global leader in deep technology physics related patents. He has a Chem-Physics PhD from Imperial College London and is a fellow of the Chartered Institute of Patent Attorneys as well as a member of the institute of Professional Representatives before the European Patent Office. 

Stephen Chandler

Stephen Chandler is an experienced technology entrepreneur and venture capital investor. He is currently the managing partner at Notion Capital and was nominated Investor AllStars "Investor of the Year" in 2020. A former investment banker at UBS, he was part of the founding leadership team of breakout cyber-security company MessageLabs, where he served as president and CFO.

Dr. Oliver Cohen

Dr. Oliver Cohen joins the Advisory Board as quantum technical adviser. He has a PhD in quantum physics from the University of London and has numerous highly cited publications in the field of quantum information. In addition to his experience as a research physicist, he has also worked for 10 years in quantitative analysis and risk management for large financial institutions. More recently he has worked as a consultant in quantitative financial modelling, as a technical writer and editor, and in the research and development of cryptographic protocols.



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