Business
Annual results
Annual results.
About this update from Phoenix Digital Assets (gibraltar) Plc
[{"type":"text","content":"\n\nThis announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nPress release\n \n28 June 2024\n \n \nPhoenix Digital Assets PLC\n \n(\"Phoenix\" or the \"Company\")\n \nAnnual results\n \nNotice of Annual General Meeting\n \nPhoenix Digital Assets PLC (AQSE: PNIX), an investment company, is pleased to announce its audited results for the 12 months ended 31 December 2023.\n \nFinancial highlights\n\n\n\n\n· \n\n\nPost-tax profit for the year rose to £17.6m (2022: -£9.4m).\n \n\n\n\n\n· \n\n\nChange in value of digital assets under management rose 558% to £25.2m (2022: -£5.5m).\n \n\n\n\n\n· \n\n\nTotal assets under management rose to £46.1m (2022: £25.1m).\n \n\n\n\n\n· \n\n\nNet cash stood at £0.7m (2022: £5.8m) as at 31 December 2023 following the Company's capital deployment into the digital assets markets.\n \n\n\n\n\nNotice of Annual General Meeting\n \nThe Company will hold its Annual General Meeting (AGM) on 25 July 2024 at 3:00p.m. at the offices of Fladgate LLP, 16 Great Queen Street, London, WC2B 5DG.\n \nDetails of the arrangements for this year's AGM are set out in the Notice of AGM. The Notice of AGM, together with the Form of Proxy, will be posted to shareholders on 2 July 2024.\n \nJonathan Bixby, Chairman of Phoenix, commented: \"It has been an incredible year for Phoenix. We correctly predicted the upturn in the digital assets markets and deployed our capital to spectacular results - we have seen our profits increase by £27m year-on-year. In the post-period, we carried through on our promise of returning value to shareholders through a tender offer, returning over £33m. I'd like to thank the Board of Directors and our shareholders for their support in what has been a phenomenal year.\"\n \nThe Directors of Phoenix Digital Assets accept responsibility for this announcement.\n \nFor further information please contact:\n \n\n\n\n\nPhoenix Digital Assets PLC\n\n\...