Business
Update on Investments
Update on Investments.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0539C Brainspark PLC 01 March 2011 \n \n\n1 March 2011\n \nBrainspark plc\n (\"Brainspark\" or \"the Company\")\n \n \nUPDATE ON INVESTMENTS\n \nBrainspark plc (AIM: BSP), a fast growing international investment company, is pleased to update its shareholders regarding the following investments:\n \nOndaland\nBrainspark has invested a further EUR180,000 in T.L.T. Tempo Libero e Turismo S.p.A (trading as \"Ondaland\"), Italy's largest water theme park, representing the Company's 20 per cent. participation to a EUR 900,000 capital raise by Ondaland. This new funding will be used by the owners of Ondaland to install a new ride in the park in time for the 2011 summer season.\n \nBibop\nOn 24 February 2011 Brainspark increased its stake in Bibop S.p.A. (\"Bibop\"), the multi-platform digital content management company, by 1.56 per cent. taking its holding to 51.76 per cent. of Bibop's share capital. The shares were bought from Mr Giuliano Borsari.\n \nIn addition, on 28 February 2011, Brainspark signed a Letter of Intent with Digital Magics S.p.A., the Milan based technology incubator investment company, to acquire its entire 42.03% holding in Bibop, which will give Brainspark a total shareholding in Bibop of 93.79%. It is intended that the contract, which must be entered into by no later than 30 June 2011, will be funded through a cash payment of EUR 1,034,935 and EUR 1 million in Brainspark ordinary shares, to be calculated by using the mid-price of Brainspark shares over a 30 day period prior to completion of the acquisition.\n \nThe contract is conditional, among other things, on Brainspark shareholders approving at a General Meeting the requisite authorities to allot new shares and to Brainspark raising the necessary funds needed to satisfy the cash element of the consideration.\n \n-ends-\n \nFor further information please contact:\n \nBrainspark plc &n...