Business
Investments in Vyke and AC An
Investments in Vyke and AC An.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n RNS Number : 9277L Brainspark PLC 14 May 2010 \n \n\n 14 May 2010\n \nBrainspark plc\n(\"Brainspark\" or the \"Company\")\n \nInvestment in Vyke Communications plc\n \nFurther re investment in AC Ancona S.p.A\n \nBrainspark plc (AIM: BSP), a fast growing international investment company, is pleased to announce the following investment activity:\n \nInvestment in Vyke Communications plc\n \nThe Company is pleased to announce that they have agreed to make an investment to acquire an 11.56 per cent interest in Vyke Communications plc (\"Vyke\") (AIM: VYKE) for a consideration of GBP 748,750 (the \"Investment\"). The Investment is being made as part of a placing by Vyke which was announced by Vyke on 22 April 2010 and approved by shareholders of Vyke at a general meeting held on 10 May 2010. The Investment is being fully settled from the Company's existing cash resources. \n \nVyke is an AIM quoted, leading mobile Voice over Internet Protocol (\"VoIP\") provider and is headquartered in the UK with subsidiaries and offices in Norway, USA, Iceland and Malaysia. The strategic goal of Vyke is to combine its expertise in VoIP-based communication systems, mobile data service creation/handset technology and wholesale carrier network management to provide a converged communication solution. Vyke's current set of mobile-oriented products offers up to a 98% discount compared to current typical mobile operator pricing structures. \n \nFor the twelve months to 31 December 2008 Vyke generated revenues of GBP 20.93 million, with a loss before tax of GBP 4.40 million. Unaudited net assets of Vyke as at 30 June 2009 were GBP 21.62 million.\n \nFurther re investment in AC Ancona S.p.A.\n \nBrainspark announced on 19 March 2010 that they had acquired an interest in 36.6 per cent of the total issued share capital of AC Ancona S.p.A. (\"AC Ancona\"), an Italian Serie B football club. Further to this announcement, Brainspark has now issued the second tranche of 111,000,000 new ordinary shares of 0.01 pence each in Brainspark to Investor Unlimited (\"Consideration Shares\"). Effective from 19 March 2010, 55,500,000 of these Consideration Shares are subject to a 12 month lock in arrangement and the other 55,500,000 ...