Online Blockchain sells part of its interest in ADVFN
The Board of Online Blockchain plc (LON:OBC) announces that the company has sold part of its interest in ADVFN plc in a series of market sales for a total consideration of £256,340.
Since the last published announcement of OBC’s interest in ADVFN published on 29 March 2023, OBC has sold in aggregate 1,055,000 ADVFN ordinary shares at an average price of 24.3p per ADVFN ordinary share.
The total sales proceeds of £256,340 (before expenses) will be used by OBC for general working capital purposes.
OBC is now interested in 3,525,938 ADVFN ordinary shares representing 7.7% of the issued share capital of ADVFN. Based on the last closing mid-market market price per ADVFN ordinary share of 24.5p, this interest has a current market value of approximately £863,855.
OBC no longer has significant influence over ADVFN and therefore its interest in ADVFN is treated as an arm’s length investment.
The principal focus of OBC remains on the development of Umbria (where OBC is an adviser) and the planned launch of the new non-fungible token (NFT) project based on The Rocky Horror Show.