NFT Investments PLC Q4 Crypto Holdings Trading Update (2720Y)

TIDMNFT

RNS Number : 2720Y

NFT Investments PLC

02 January 2024

Press Release

2 January 2024

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

NFT Investments PLC

("NFT Investments" or "the Company")

Q4 Crypto Holdings Trading Update

NFT Investments (AQSE: NFT), an investment firm, announced on 20 March 2023 its intention to publish Quarterly Trading Updates in advance of the liquidation of its Crypto holdings and to return value to its shareholders by way of a tender offer for its shares following the next BTC halving (expected in April 2024).

In its circular dated 11 April 2023, the Company also stated that the price at which the Company might purchase its ordinary shares would not be less than the nominal value of an ordinary share and would be not more than the greater of 3.5p (being the net asset value of the Company per share as at 6 April 2023) and an amount equal to the net asset value of the Company per share as announced by the Company on a Regulatory Information Service from time to time. The directors of NFT have now resolved that the price at which the Company will purchase its ordinary shares will be an amount equal to the net asset value of the Company per share as announced by the Company on a Regulatory Information Service from time to time. The Company will proceed with the tender offer following the Bitcoin halving (currently anticipated to take place in April 2024) and before the end of 2024.

Crypto Holdings December 2023 Quarter Update

The Company has unaudited Crypto and Stablecoin assets with a valuation of GBP43.8million (4.33p per share) as at 31 December 2023. The major components of this are as follows:

Token Quantity Valuation (GBPm)

 
 Bitcoin          BTC            623     20.5 
 Ethereum         ETH           6,794    12.1 
                 -----------  --------  ----- 
 Solana           SOL          86,396    6.9 
                 -----------  --------  ----- 
 Optimism         OP           732,899   2.1 
                 -----------  --------  ----- 
 Lido Dao         LDO          396,109   0.8 
                 -----------  --------  ----- 
 Cosmos           ATOM         57,902    0.5 
                 -----------  --------  ----- 
 Near Protocol    NEAR         225,362   0.6 
                 -----------  --------  ----- 
 Iron Fish        IRON         60,938    0.1 
                 -----------  --------  ----- 
 Stablecoins      USDT/USDC    203,220   0.2 
                 -----------  --------  -----

Total Company NAV December 2023 Quarter Update

The Company has unaudited Crypto, Stablecoin, Cash and Equity Investments with a valuation of GBP47.1m (4.67p per share) as at 31 December 2023. The components are as follows:

 
 Crypto and Stablecoins   GBP43.8m 
 Cash                     GBP0.3m 
                         --------- 
 Equity Investments       GBP3.0m 
                         ---------

The Company's current share price of 2.65p represents a 39% discount to its current unaudited Crypto & Stablecoin valuation and a 43% discount to its current unaudited Total NAV

The Directors of NFT Investments PLC take responsibility for this announcement.

For further information please contact:

 
 NFT Investments 
 Jonathan Bixby 
  Executive Chairman    +44 7876 888 011 
                       ----------------- 
 First Sentinel 
                       ----------------- 
 Corporate Adviser 
  Brian Stockbridge     +44 7858 888 007 
                       ----------------- 
 Tennyson Securities 
                       ----------------- 
 Corporate Broker 
  Peter Krens           +44 207 186 9030 
                       -----------------

About NFT Investments:

NFT Investments PLC invests in a diversified portfolio of cryptocurrency, and/or in companies or funds which have exposure to NFT or blockchain technology. The Company's leadership team have an extensive track record in the cryptocurrency sector and previously founded Argo Blockchain PLC, a global crypto miner. NFT Investments is headquartered in London, UK and its shares are listed on the Aquis Stock Exchange Growth Market under the ticker

symbol NFT.   https://www.nftinvest.pro/

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