Update on the acquisition of the GSX

Valereum PLC

31 August 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

31^st August 2023

Valereum Plc

("Valereum" or the "Company")

Update on the acquisition of the Gibraltar Stock Exchange

Valereum Plc, the Gibraltar technology group, is pleased to announce that the acquisition of the Gibraltar Stock Exchange ("GSX") will proceed in September.

Valereum has secured committed funding from a United States fund, for mid-September in the amount of £5-8m in two tranches. The Gibraltar Financial Services Commission ("GFSC") has accordingly extended the deadline for completion of the acquisition to 28^th September.

The GSX Group, current owners of the GSX, supports this extension and has been immensely helpful during this process.

Richard Poulden, Valereum's Chairman, said: "My family have been involved in Gibraltar for four generations and I saw in the GSX the opportunity to create a financial powerhouse which will drive Gibraltar's financial services industry. I am immensely grateful for the support we have received from many people in Gibraltar as we have strived to make this vision a reality".

The Directors of the Company accept responsibility for the contents of this announcement.

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Enquiries:

Valereum Plc

Richard Poulden, Chairman

Tel: [phone]

AQSE Corporate Adviser

First Sentinel Corporate Finance

Brian Stockbridge

Tel: [phone]

Investor Relations

J&H Communications Limited

George Hudson

Tel: [phone]

[e-mail]

For more information, please visit the Company's website at valereum.gi

 

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