Operational Update & Board Changes

AQRU plc

29 August 2023

 

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.

29 August 2023

AQRU PLC

("AQRU" or "the Company")

Operational Update & Board Changes

AQRU plc (AQSE: AQRU), an incubator specialising in opportunities in decentralised finance ("DeFi"), today announces it has conducted an operational review designed to make it a leaner, more efficient business.

Further to the Company's measures to streamline its cost base conducted last year, the Company has continued to downside its employee base and it has additionally streamlined its investment pipeline.

Board Changes

As part of this operational review, the Board will, going forward, be comprised of Mike Edwards as Executive Chairman, Nicholas Lyth as CFO and Mark Rutledge as Independent Non-Executive Director. The Board would like to thank Phil Blows, Digby Try and Dr. Philipp Kallerhoff for their considerable efforts.

Investment Restructuring

The Company has also restructured its digital asset businesses which includes the AQRU app, Maple Finance and other technology businesses having transferred its interest in those businesses to Langland Software Solutions Ltd ("Langland") in exchange for a 30%-stake in that company. Langland is controlled by Phil Blows (who is also a director) who will continue to operate these assets and, hence, customers of these products should not experience any disruption in their services.

Following this restructuring, the Company now only holds its investment in NFT Investments PLC, StreaksAI PLC, London Carbon Exchange and private equity investments made prior to its IPO, in addition to the 30%-stake in Langland and approximately £1m in cash and crypto tokens.

The Directors of AQRU plc take responsibility for this announcement.

For further information, please contact:

AQRU
Mike Edwards Executive Chairman	Via First Sentinel [phone]
First Sentinel
AQSE Corporate Adviser Brian Stockbridge	[phone]

About AQRU plc:

AQRU is an incubator specialising in opportunities in decentralised finance (DeFi), a disruptive technology using blockchain and cryptocurrencies to remove financial intermediaries from transactions, creating a cheaper, more efficient and more secure way of providing financial services. Listed on the Aquis Exchange in London, we apply our expertise to the business operations and strategic plans of FinTech companies in the UK, USA and Canada, and act as an accelerator for start-ups and early-stage companies. www.aqruplc.com

 

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