Business
Final Results
Final Results.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n24 June 2024 Quantum Blockchain Technologies Plc (”QBT” or ”the Company”) FINAL RESULTS Quantum Blockchain Technologies (AIM: QBT), a Research & Development and investing company focused on an intensive R&D programme to disrupt the blockchain technology sector, is pleased to announce its final results for the year ended 31 December 2024. The Company’s Annual General Meeting (“AGM”) will be held at Company’s registered address, 1st Floor, 1 Chancery Lane, London, WC2A 1LF at 12.00 pm on 21 July 2025. The Annual Report and Accounts together with the AGM Notice and Form of Proxy (together the “Documents”) are available on the Company’s website under the “Investor Relations – Annual Reports and Circulars” section. The Documents will be posted shortly to those shareholders who have requested to receive printed documents. Related Party Transaction As announced on 1 August 2024, the Company entered into a consultancy agreement effective from 1 January 2022, with Infusion (2009) Limited (“Infusion”), an English company controlled by Professor Francesco Gardin, the Company’s chairman and chief executive. Under the consultancy agreement, Infusion provides the services of Professor Gardin as chief research officer. The Company’s board (excluding Professor Gardin), to reflect the level and nature of Professor Gardin’s input into the Company’s research programmes, agreed to increase the monthly consultancy fee payable to Infusion from £12,500 to £16,250 with effect from 1 January 2024. The Company also awarded an additional fee of £100,000 to reflect the contribution made by Professor Gardin to the Company’s research programmes during 2024. In addition, Professor Gardin assigned to Infusion his rights to a payment of 10% commission in respect of funds recovered from SIPIEM and Sosushi, Mediapolis and Geosim (four of the Company's legacy assets), as set out in Francesco Gardin’s original July 2015 letter of appointment, reconfirmed in April 2021. The awards made under the consultancy agreement and the assignment are treated as related party transactions under the AIM Rule 13 of the AIM Rules for Companies. With the exception of Francesco Gardin, who is involved in the transaction as a related party, the directors of the Company consider, having consulted with t...