Supernova Digital Assets PLC Share capital reduction update

RNS Number : 2402Z

Supernova Digital Assets PLC

05 August 2024

 

5 August 2024

 

 

Supernova Digital Assets PLC

 

("Supernova" or the "Company")

 

Share capital reduction update and proposed return of value to shareholders

 

Supernova (AQSE: SOL), a company specialising in the Solana ecosystem, is pleased to announce that, following the announcement on 24 July 2024, the court order and statement of capital have been received and registered by the Registrar of Companies. Therefore, the share capital reduction is now effective.

 

Following the implementation of the share capital reduction, there will be no change in the nominal value of the Company's shares or the number of shares in issue. 

 

Proposed return of value to shareholders

 

On 4 March 2024, the Company announced that:

 

·    it intended to return value to shareholders after Phoenix Digital Assets PLC (AQSE: PNIX) completed its tender offer to shareholders; and

 

·    it intended to achieve the return of value by purchasing its own shares.

 

Phoenix Digital Assets PLC has now completed its tender offer to shareholders.

 

Buyback

Following the cancellation of the share premium account, it remains the Company's intention to implement a buyback in due course. 

For further information please contact:

Supernova Digital Assets
Mike Edwards Executive Chairman	[phone]
First Sentinel
Corporate Adviser Brian Stockbridge	[phone]

 

 

About Supernova Digital Assets:

The Company will look to identify investment and business building opportunities in the high growth Solana and crypto currency ecosystem. The Board intends to deploy the majority of the Company's cash resources in the acquisition of minority interests in a number of different, yet to be identified, companies in the broad Solana and crypto currency ecosystem, and to apply expertise to the business operations and strategic plans of these companies. The experience, operational skills and contacts of the Board are intended to act as an accelerator to start-ups and early-stage companies to maximise their profit opportunity. It is anticipated that returns to Shareholders will be delivered through a combination of an appreciation in the Company's share price and through the adoption of a progressive dividend policy. The Company's Directors have an established track record, experience and networks in the crypto currency sector, digital assets management, as well as the media industry to drive value creation.

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