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Correction to announcement of 15 April 2026: ...
Quantum Blockchain Technologies plc announced that its subsidiary, Clear Leisure 2017 Limited, has won a Court of Appeal case in Turin, Italy, overturning a previous decision and securing a €38,500 damages award plus statutory interest from December 7, 2020, and approximately €15,000 in legal costs. The company estimates a total recovery of around €78,000, which includes accrued interest of approximately €20,000 and other general expenses of €4,500. This favourable judgment, which rejected the defendant's counterclaims, stems from an outstanding balance of €38,500 from a 2019 transaction. Disclaimer*
About this update from Quantum Blockchain Technologies Plc
16 June 2026 Correction: This replaces the announcement released at 07:00 on 15 April 2026 that contained a comment querying the total expected recovery amount. This amount was correct although reference to approximately €4,500 of general expenses has now been added for clarity. The full updated announcement is provided below . Quantum Blockchain Technologies plc ("QBT" or the "Company") Court of Appeal Damages Award in Favour of QBT Subsidiary Clear Leisure 2017 Limited Quantum Blockchain Technologies plc (AIM: QBT), the investment company focused on blockchain technologies, announces that its wholly owned subsidiary, Clear Leisure 2017 Limited ("CL2017"), has received a favourable judgment from the Court of Appeal of Turin, Italy. The Court has fully upheld CL2017 ’ s appeal, overturning the trial court’s decision and ordering the defendant to pay: • €38,500 damage award, plus • statutory interest accruing from 7 December 2020 and which will continue to accrue until the damage award is paid in full, and • legal costs totaling approximately €15,000. The Court also rejected the defendant ’ s attempt to set off the debt on the basis of alleged counterclaims. Background to the case The claim originates from a transaction in 2019 involving the sale of a 30% equity interest in Beni Immobili S.r.l., by CL2017’s predecessor, under which the defendant agreed to pay €45,000 in instalments. Following completion of the transaction however, only payments totaling €6,500 were received, leaving an outstanding balance of €38,500. In November 2020, CL2017 acquired this receivable from Sipiem S.p.A. in liquidation at a discounted price. Estimated Financial Impact Based on applicable statutory commercial interest rates since December 2020, the Company estimates that accrued interest to date of approximately €20,000, together with the legal costs and damage award, plus approximately €4,500 of other general expenses may be recovered by CL2017 from the defendant. This brings the total expected recovery to ap...
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