Coinsilium Group Limited Investee Company Update
16 January 2017 - 9:10AM
UK Regulatory
TIDMCOIN
16 January 2017
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Investee Company Update
SatoshiPay
Coinsilium Group Limited (NEX:COIN), the blockchain technology investment and
development company, is pleased to announce that SatoshiPay Ltd ('SatoshiPay'),
a Nano-Payments company in which Coinsilium has a 14.5% equity interest, has
entered into a conditional agreement with investing company Blue Star Capital
plc (AIM: BLU) which has conditionally subscribed for 1,886 ordinary shares in
SatoshiPay for EUR0.64 million.
Details of the announcement from Blue Star Capital can be seen here: http://
www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BLU/
13095677.html
If completed, this subscription would value SatoshiPay shares at EUR340 per
share.
In January 2016, Coinsilium completed an investment of EUR200,000 and holds 2,133
ordinary shares in SatoshiPay via Seedcoin Limited, Coinsilium's wholly owned
subsidiary. Should the Blue Star subscription complete, at EUR340 per share the
implied value of Coinsilium's shareholding in SatoshiPay would be EUR725,220,
representing an increase in value of 362.61% since Coinsilium's investment less
than a year ago.
Coinsilium CEO Eddy Travia commented: "We are delighted to see the interest
SatoshiPay is generating amongst early stage technology investors and whilst
this subscription comes at a substantially higher valuation than that of
Coinsilium's original investment, we also recognise the significant progress
SatoshiPay has made over the last year to justify such a substantial uplift in
its valuation. This subscription underscores our early vision that SatoshiPay's
blockchain-based platform can transform online content monetisation and further
proves our well-founded confidence in SatoshiPay's CEO Meinhard Benn and his
excellent team as leaders in this space."
About SatoshiPay Ltd
SatoshiPay is developing a two-way payment platform, which enables online
content providers to monetise their digital content through the acceptance of
nanopayments. SatoshiPay is headquartered in London with development led
through its office in Berlin. Angel funding for SatoshiPay Ltd was supplied by
Axel Springer Plug & Play and Henning Peters, seed funding was raised through
publicly listed companies Coinsilium Group Limited (NEX:COIN) and FastForward
Innovations (LON:FFWD). Development of SatoshiPay's nanopayment product started
in April 2015 and its beta version was released in February 2016.
Find updated information at the company's website https://satoshipay.io, its
blog https://medium.com/@SatoshiPay and Twitter https://twitter.com/SatoshiPay
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Eddy Travia Coinsilium Group Limited +44 (0) 207 099 0740
Guy Miller / Mark Anwyl Peterhouse Corporate +44 (0) 207 469 0930
Finance Limited (NEX
Exchange Corporate
Adviser)
Nick Emerson / Andy Thacker SI Capital Limited +44 (0) 1483 413 500
(Broker)
Notes to Editor
Coinsilium is a London-based blockchain technology focused investment and
development company, supporting early-stage blockchain companies through
investment, acceleration, development and education.
Coinsilium shares are traded on NEX Exchange, a Recognised Investment Exchange
under the Financial Services and Markets Act 2000. Coinsilium has a portfolio
of interests in blockchain companies and offers a suite of services including
accredited training & education, investment solutions, in-house development and
other professional services to blockchain/fintech companies and major
corporations eager to learn how blockchain technology can transform their
business processes.
For further information please visit http://www.coinsilium.com/
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.
END
(END) Dow Jones Newswires
January 16, 2017 04:10 ET (09:10 GMT)