NFT Investments PLC Sale to Pioneer of investment made in Kodoku (4461U)
03 Dezember 2021 - 8:00AM
UK Regulatory
TIDMNFT
RNS Number : 4461U
NFT Investments PLC
03 December 2021
Press Release
3 December 2021
NFT Investments PLC
("NFT Investments" or the "Company")
Sale to Pioneer of investment made in Kodoku Studios Ltd
NFT Investments, a company specializing in the identification,
acquisition, investment, and development of non-fungible tokens
("NFTs"), is pleased to announce it has sold a 25% equity stake in
Kodoku Studios, an innovative NFT-focused gaming company at the
forefront of the exciting new NFT-gaming genre, acquired at a cost
of GBP500,000.
Kodoku is a London, UK-based studio that is developing a
platform called "The Pit", which will enable players to wager their
NFTs as well as offer a unique opportunity for other creators to
host their own NFT arenas .
On 1 November it was announced that Pioneer Media Holdings Inc,
an investment vehicle listed on London's AQSE and the Canadian
Securities Exchange, had entered into a non-binding letter of
intent with Kodoku Studios to acquire 100 per cent of its issued
capital (including the 25% stake owned by the Company) for a total
consideration of CAD $8.85 million, to be satisfied by CAD $850,000
in cash and 8 million Pioneer shares valued at CAD $1 per share,
distributed on a pro-rata basis to existing Kodoku
shareholders.
Kodoku was wholly acquired by Pioneer on 30 November, as a
result of which NFT has become a 3 per cent equity holder in
Pioneer Media. Based on Pioneer's closing share price of 101.5p on
2 December 2021, NFT's holding of 2,000,000 shares is valued at
GBP2.0 million. This, when combined with the CAD $212,500
(GBP125,000) the Company has received from Pioneer, delivers an
approximately 4-fold return on its investment in Kodoku.
Jonathan Bixby, Executive Chairman of NFT Investments, said: "We
are moving at high-speed to support the growth of a range of
innovative businesses that are positioned to benefit from the
long-term growth of the NFT market. This is also providing NFT with
the opportunity to generate excellent returns on its investments as
shown by the takeover of Kodoku. I look forward to supporting
Kodoku's growth in order to build further value in the business
over the long term."
Mike Edwards, a director of NFT Investments PLC is also the
Executive Chairman of Pioneer and owns 13,011,000 shares
representing 20.1 % of Pioneer.
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).
The directors of NFT Investments accept responsibility for this
announcement.
For further information please contact:
NFT Investments
Jonathan Bixby via Tancredi +44 207 887 7633
Executive Chairman
Neil Thapar
Investor Relations +44 7876 455 323
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First Sentinel
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Corporate Adviser
Brian Stockbridge +44 7876 888 011
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Tennyson Securities
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Corporate Broker
Peter Krens +44 207 186 9030
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Novum Securities
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Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
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Tancredi Intelligent Communication
Media Relations
------------------------------
Salamander Davoudi
Edward Daly +44 7957 549 906
Helen Humphrey +44 7861 430 057
nftinvestments@tancredigroup.com +44 7449 226 720
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NFT Investments plc is an investment company specialising in
non-fungible tokens ("NFTs") and is the first ever NFT vehicle to
list in a major jurisdiction worldwide. The Company invests in a
diversified portfolio of NFTs, 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 Exchange Growth Market under
the ticker symbol NFT. https://www.nftinvest.pro/
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