Valereum PLC Valereum PLC update on the acquisition of the GSX (7580T)

TIDMVLRM

RNS Number : 7580T

Valereum PLC

17 November 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

17 November 2023

Valereum Plc

("Valereum" or the "Company")

Valereum PLC update on the acquisition of the GSX

Valereum Plc (AQSE: VLRM), the Gibraltar technology group announces that the Gibraltar Stock Exchange (GSX) is in the process of surrendering its license, is making immediate arrangements to close its markets and as a result GSX will no longer be permitted to accept new business. Valereum continues to work with the Gibraltar Financial Services Commission (GFSC) regarding the acquisition of the GSX and the requirements around the issue of a new license. Further announcements will be made in the short term as discussions continue.

James Formolli stated:

"I would like to thank shareholders for their patience. Valereum still holds a fixed charge over shares totalling 50% of the GSX and will continue discussions with all relevant parties to find a way forward. The GSX Group is still keen for Valereum to conclude the acquisition."

Valereum would also like to announce the departure of Alan Gravatz from the Board of Directors with immediate effect.

James Formolli would like to thank Alan for his sterling service to Valereum and wish him all the best for the future.

Valereum plans to update shareholders over the coming weeks with new appointees to the Valereum Board and share other significant news impacting the company's trajectory where applicable.

The Directors of the Company accept responsibility for the contents of this announcement.

For more information, please visit the Company's website at valereum.gi

Enquiries:

 
 Valereum Plc 
  James Formolli, Chairman    +971 4584 6284 
 AQSE Corporate Adviser 
  First Sentinel Corporate 
  Finance 
  Brian Stockbridge           +44 (0) 20 3855 5551 
                             --------------------------------- 
 Investor Relations           +44 (0)7803 603130 
  Soho Communications Ltd      george@sohocommunications.co.uk 
  George Hudson 
                             ---------------------------------

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November 17, 2023 02:00 ET (07:00 GMT)

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