19th Jun 2024 11:49
Quantum Blockchain Technologies PLC - investment company focused on technology sector, particularly blockchain, cryptocurrency and artificial intelligence - Notes that on Monday last week, the Court of Appeal in Venice rules in favour of Quantum subsidiary Clear Leisure 2017 Ltd in its claim against the former directors and statutory auditors of Sipiem in Liquidazione Srl. The Sipiem defendants had appealed an award of damages to Clear Leisure, but the appeals court upheld all but EUR105,412 in damages, leaving the total damages award about EUR6.1 million. As a result of the decision, a previous settlement with some of the defendants for EUR700,000 has been deemed void. The way is now clear for Clear Leisure to seek to enforce the judgement for the full EUR6.2 million, including awards for legal expenses.
"The company will ensure that CL17 proceeds with maximum effort to seek and collect the funds from the defendants," says Quantum Executive Chair Francesco Gardin.
Current stock price: 0.85 pence per share, down 3.4% on Wednesday late morning in London
12-month change: down 49%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.