Business
Share capital reduction update
Share capital reduction update.
About this update from Supernova Digital Assets Plc
[{"type":"text","content":"\n\n5 August 2024\n \n \nSupernova Digital Assets PLC\n \n(\"Supernova\" or the \"Company\")\n \nShare capital reduction update and proposed return of value to shareholders\n \nSupernova (AQSE: SOL), a company specialising in the Solana ecosystem, is pleased to announce that, following the announcement on 24 July 2024, the court order and statement of capital have been received and registered by the Registrar of Companies. Therefore, the share capital reduction is now effective.\n \nFollowing the implementation of the share capital reduction, there will be no change in the nominal value of the Company's shares or the number of shares in issue. \n \nProposed return of value to shareholders\n \nOn 4 March 2024, the Company announced that:\n \n· it intended to return value to shareholders after Phoenix Digital Assets PLC (AQSE: PNIX) completed its tender offer to shareholders; and\n \n· it intended to achieve the return of value by purchasing its own shares.\n \nPhoenix Digital Assets PLC has now completed its tender offer to shareholders.\n \nBuyback\nFollowing the cancellation of the share premium account, it remains the Company's intention to implement a buyback in due course. \n\nFor further information please contact:\n\n\n\n\nSupernova Digital Assets\n\n\n\n\n\n\n\nMike Edwards\nExecutive Chairman\n\n\n+44 7858 888 007 \n \n\n\n\n\nFirst Sentinel\n\n\n\n\n\n\n\nCorporate Adviser\nBrian Stockbridge\n \n\n\n+44 7876 888 011\n\n\n\n\n \n \nAbout Supernova Digital Assets:\nThe Company will look to identify investment and business building opportunities in the high growth Solana and crypto currency ecosystem. The Board intends to deploy the majority of the Company's cash resources in the acquisition of minority interests in a number of different, yet to be identified, companies in the broad Solana and crypto currency ecosystem, and to apply expertise to the business operations and strategic plans of these companies. The experience, operational skills and contacts of the Board are intended to act as an accelerator to start-ups and early-stage companies to maximise their profit opportunity. It is anticipated that returns to Shareholders will be delivered through a combination of an appreciation in the Co...