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NetScientific to increase Q-Bot stake to 23.7%
NetScientific to increase Q-Bot stake to 23.7%.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \n \n RNS REACH\n \n \n \n NetScientific plc\n \n \n \n \n (\"NetScientific\", the \"Group\" or the \"Company\")\n \n \n \n NetScientific to increase Q-Bot stake to 23.7%\n \n \n \n \n \n \n NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group\n announces that EMV Capital, its wholly-owned subsidiary, has agreed to acquire (either itself or using a nominee) a further stake in Q-Bot of 1,066 ordinary shares (3.13%) for a total consideration of £202,540.\n \n \n \n \n \n Q-Bot is a London-based award-winning robotics and AI company that has pioneered cutting edge patented technology and digital solutions for the insulation and upgrade of buildings and homes. In the year ended 31 March 2022, Q-Bot generated sales of £2.2m, and expects significant growth in sales as market deployment accelerates, in part driven by a drive to insulate homes in the UK and Europe due to higher energy costs, decarbonisation of the housing stock and energy security.\n \n \n \n \n \n This acquisition will result in the direct equity holding in Q-Bot by NetScientific (as the nominee of EMV Capital) increasing from 20.6% to 23.7%, in addition to EMVC's Capital Under Advisory representing 16.7%.\n \n \n \n \n \n \n Commenting on this news, Ilian Iliev, CEO of NetScientific stated:\n \n \"Q-Bot has been a very good investment for us. Based on the share price in its June 2022 £1.6m funding round NetScientific's 23.7% Q-Bot direct stake (once increased) is valued at £3.19m, a gain of approximately £1.67m in less than one year.\"\n \n \n \n \n \n For more information, please contact:\n \n \n \n \n \n \n \n NetScientific\n \n \n \n \n \n Via Walbrook PR\n \n \n \n \n \n \n Ilian Iliev, CEO\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n WH Ireland (NOMAD, Financial Adviser and Broker)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Chris Fielding / Darshan Patel \n \n \n \n \n +44 (0)20 7220 1666\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Walbrook PR\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Nick Rome/ Paul McManus\n \n \n \n \n \n \n \n 07748 325 236 or 07980 541 893\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About NetScie...