Business
Update on Investments-Replcmt
Update on Investments-Replcmt.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n Brainspark PLC\n22 November 2005\n\n\nThe following replaces the 'Update on Investments' announcement made on 21\nNovember 2005 under RNS Number 4523U at 16.54. The 'convertible loan agreement'\nshould have read, 'an investment agreement the principal terms of which were\nannounced on 11 August 2005'. All other details remain the same.\n\n\nFOR IMMEDIATE RELEASE 22 November 2005\n\n BRAINSPARK PLC ('Brainspark' or 'the Company')\n\n Update on Investments\n\nInvestment in Geosim Systems Limited ('Geosim')\n\nFurther to the announcements of 26 October 2005 and 11 August 2005, Brainspark\nnow announces that, together with Geosim and the other shareholders in Geosim,\nthe Company have entered into an investment agreement, the principal terms of\nwhich were announced on 11 August 2005, with CRASH Ventures LLC, a US private\nequity firm, (the 'Firm') (the 'Geosim Agreement'), a Oregon limited liability\ncompany.\n\nEasyArt acquires WorldGallery assets and appoints new CEO\n\nRachel Elnaugh, former chief executive of Red Letter Days and panellist on\nBBC2's Dragons' Den, has been appointed CEO of Easyart.com, the UK's leading\nonline art and framing retailer (www.easyart.com). Brainspark holds an 19%\nequity position in the company.\n\nMs Elnaugh, 40, will have the opportunity to acquiring up to 20% of the business\nthrough a mix of personal investment and share options. She takes over from\nfounder Simon Matthews, who will continue to work with the company as an\nadvisor.\n\nEasyart.com have announced the acquisition of rival art portal\nWorldgallery.co.uk. for a consideration of 27,539 new Easyart Holdings Ltd D\nshares, valuing the acquisition at £ 137,395 or £5.00 per share.\n\nFollowing the issue of the new shares, Brainspark will own 54, 690 Easyartshares\nrepresenting 17.6% of the total Easyart share capital.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2058,"tagName":"div"}]