EQS-News: Advanced Blockchain AG / Keywords: Cryptocurrency / Blockchain / Stock Buyback
Advanced Blockchain AG: Details of public share buyback to acquire up to 325,000 shares
05.01.2023 / 10:17 CET/CET
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As already published in its ad hoc announcement on January 5, 2023, the company will submit a share buyback proposal to its shareholders to acquire no par value bearer shares of Advanced Blockchain AG for €3.10 up to €325,000. per share. The application period closes on 24th January 2023 at 12:00 CET.
In view of an eventful and successful 2022, Advanced Blockchain AG has decided to make this offer to its shareholders due to the large difference between the stock market price and the intrinsic value of its holding portfolio.
In the last fiscal year, new digital web3 and blockchain business models were identified, designed and developed into independent companies or projects using our own resources. In addition, the company has pioneered new investment opportunities and strategically invested in complementary technologies and companies around the world.
The share buyback was self-financed with proceeds from, among other things, several incubation spin-offs, which rewarded the IP transfer and reimbursed the costs incurred during the incubation process. .
Recurring revenue will allow the company to cover most of its ongoing costs this year. The company also has a good liquidity position for new investments and incubation in the current financial year on favorable entry terms. Incubation and investment development in decentralized technology will continue, and the existing portfolio is expected to develop positively once the market recovers.
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in various ecosystems and markets in the industry.
More information about Advanced Blockchain AG, its various projects and investments can be found at https://www.advancedblockchain.com/.
05.01.2023 CET/CEST Distribution of company news sent by EQS News, a service of EQS Group AG.
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