12th Jun 2026 08:55
Quantum Blockchain Technologies PLC - London-based blockchain and cryptocurrency group - Announces on Thursday its binding agreement for the disposal of its remaining 23.39% equity interest in Italian fintech and crowdfunding platform Forcrowd Srl, as it aims to focus resources on its core blockchain, bitcoin mining and AI solution activities. Gross proceeds will total EUR155,000, comprising EUR25,000 for a 5.47% stake pursuant to a previously agreed option arrangement, and EUR130,000 for the remining 17.92%. Notes that Forcrowd this week completed an EUR400,000 capital increase, with the disposal to take place following its registration. Says the buyers are "a group of Italian investors with significant experience in financial services, investment management and corporate finance," plus an existing Forcrowd shareholder. Quantum Chair & Chief Executive Officer Francesco Gardin will step down from his role as Forcrowd's chair upon completion of the sale.
Gardin comments: "The transaction brings additional cash resources to QBT and allows the company to further focus on the execution of its strategic objectives...Since our initial investment in October 2019, it has been a privilege to support Forcrowd's development, including its transition to a regulated crowdfunding platform. I am particularly proud that I have undertaken the role of chairman throughout this period reflecting my commitment to supporting the business and creating value for shareholders."
Current stock price: 0.38 pence, up 2.7% on Friday morning in London
12-month change: down 40%
By Emma Curzon, Alliance News reporter
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