Business
Operational Update & Board Changes
Operational Update & Board Changes.
About this update from Supernova Digital Assets 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 \n29 August 2023\n \nAQRU PLC\n \n(\"AQRU\" or \"the Company\")\n \nOperational Update & Board Changes\n \n \nAQRU plc (AQSE: AQRU), an incubator specialising in opportunities in decentralised finance (\"DeFi\"), today announces it has conducted an operational review designed to make it a leaner, more efficient business.\n \nFurther to the Company's measures to streamline its cost base conducted last year, the Company has continued to downside its employee base and it has additionally streamlined its investment pipeline.\n \nBoard Changes\n \nAs part of this operational review, the Board will, going forward, be comprised of Mike Edwards as Executive Chairman, Nicholas Lyth as CFO and Mark Rutledge as Independent Non-Executive Director. The Board would like to thank Phil Blows, Digby Try and Dr. Philipp Kallerhoff for their considerable efforts.\n \nInvestment Restructuring\n \nThe Company has also restructured its digital asset businesses which includes the AQRU app, Maple Finance and other technology businesses having transferred its interest in those businesses to Langland Software Solutions Ltd (\"Langland\") in exchange for a 30%-stake in that company. Langland is controlled by Phil Blows (who is also a director) who will continue to operate these assets and, hence, customers of these products should not experience any disruption in their services.\n \nFollowing this restructuring, the Company now only holds its investment in NFT Investments PLC, StreaksAI PLC, London Carbon Exchange and private equity investments made prior to its IPO, in addition to the 30%-stake in Langland and approximately £1m in cash and crypto tokens.\n \nThe Directors of AQRU plc take responsibility for this announcement.\n \nFor further information, please contact:\n \n\n\n\n\nAQRU\n\n\n\n\n\n\n\nMike Edwards\nExecutive Chairman\n\n\nVia First Sentinel\n+44 203 989 2222\n\n\n\n\nFirst Sentinel\n\n\n\n\n\n\n\nAQSE Corp...