Cancellation of Debt Obligation to Directors
Summary by AI BETAClose X
LONDON BTC COMPANY LIMITED
Cancellation of Outstanding Internal Debt Obligation to Directors
London, New York, 02 February 2026 - London BTC Company Limited ("Company") (BTC: LSE, VINZF: OTCQB), the London Stock Exchange Main Market-listed bitcoin mining and treasury company with operations across North America announces the repayment of loans to its directors, as announced on 30 June 2025, two senior Directors of the Company, Mr Lenigas and Mr Edelman, lent their personal shares to the Company in order that the Company could retire its convertible loan note with its US investor. This was done to protect the Company's liquid assets and to keep such assets allocated to growing the Company's operations, the two Directors have agreed to their loans being repaid by the issue of new ordinary shares in the Company shares in lieu of cash ("New Shares").
The repayment of the loans by the Company to the two Directors could constitute a material related party transaction for the purpose of Rule 7.3 of the FCA's Disclosure and Transparency Rules. The transaction has therefore been approved by the Company's Directors independent of the transaction, being Robert Scott and Mahesh Pulandaran. David Lenigas and Jeremy Edelman recused themselves from the board's consideration of this transaction and did not vote on the relevant board resolutions. As such, the Directors who are not personally interested in the repayment of the loans have agreed to issue 5,716,289 shares to each of David Lenigas and Jeremy Edelman to clear all of the Company's outstanding obligations to them, including agreed interest.
Admission and Total Voting Rights
Applications will be made for the New Shares to be admitted to trading on the Main Market of the London Stock Exchange plc ("Admission"). Admission is expected to become effective on or around 05 February 2026.
After the issue and Admission of the 11,432,578 New Shares to Mr Lenigas and Mr Edelman, the total number of voting rights attached to the Company's issued share capital will be 358,846,093 ordinary shares. Total number of shares in issue will be 358,846,093 ordinary shares. The Company does not hold any shares in treasury.
The above figure of 358,846,093 shares may be used by shareholders as the denominator for the calculation by which they can determine whether they are required to notify their interest in, or a change of their interest in, the Company under the Financial Conduct Authority Disclosure Guidance and Transparency Rules.
The shareholdings in the Company of the Directors after the issue of the New Shares will be as follows:
|
Name |
Shares |
% Held |
|
D Lenigas |
57,046,356 |
15.90% |
|
J Edelman |
55,666,356 |
15.51% |
|
Employee Benefit Trust |
50,740,204 |
14.14% |
|
Carimar International Holdings Limited, (Rob Scott, Finance Director) |
153,000 |
0.04% |
The directors of London BTC Company Limited accept responsibility for this announcement.
For further information please contact:
|
London BTC Company Limited
|
Hewie Rattray, CEO hewie@ldnbtc.com David Lenigas, david@ldnbtc.com Rob Scott, Finance Director, rob@ldnbtc.com Jeremy Edelman, jeremy@ldnbtc.com |
|
First Sentinel (Corporate Adviser)
|
Brian Stockbridge brian@first-sentinel.com T: +44 (0) 20 3855 5551 |
|
Clear Capital Markets (Broker)
|
Bob Roberts bobroberts@clear-cm.co.uk T: +44 (0) 20 3869 6080 |
|
Marex Financial (Joint Broker and Advisor) |
Angelo Sofocleous / Keith Swann / Matt Bailey (Broking) Email: corporate@marex.com T: +44 (0) 207 655 6000 |
About London BTC Company Limited
The Company's primary listing is on the London Stock Exchange (United Kingdom) under the ticker "BTC.L" and it trades in the USA on the OTCQB under the ticker "VINZF". The Company is building up a strategic Bitcoin holding through acquiring Bitcoin as a treasury and currency management tool and through adding Bitcoin generated from its mining operations in North America. The Company currently operates Bitcoin miners hosted across multiple third-party facilities in Indiana, Iowa, Nebraska and Texas (USA) and Labrador (Canada).
Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
David Lenigas |
||||
|
2. |
Reason for the Notification |
|||||
|
a) |
Position/status |
Director |
||||
|
b) |
Initial notification / Amendment |
Initial notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
London BTC Company Limited
|
||||
|
b) |
LEI |
9845006607892CED8456 |
||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the Financial instrument, type of instrument |
Ordinary shares |
||||
|
|
ISIN |
VGG9520B1004 |
||||
|
b) |
Nature of the transaction |
Issue of shares pursuant to a call on shares loaned to the company |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information: · Aggregated volume · Price |
Single transaction
|
||||
|
e) |
Date of the transaction |
02 February 2026 |
||||
|
f) |
Place of the Transaction |
Outside a trading venue |
||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Jeremy Edelman |
||||
|
2. |
Reason for the Notification |
|||||
|
a) |
Position/status |
Director |
||||
|
b) |
Initial notification / Amendment |
Initial notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
London BTC Company Limited
|
||||
|
b) |
LEI |
9845006607892CED8456 |
||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the Financial instrument, type of instrument |
Ordinary shares |
||||
|
|
ISIN |
VGG9520B1004 |
||||
|
b) |
Nature of the transaction |
Issue of shares pursuant to a call on shares loaned to the company |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information: · Aggregated volume · Price |
Single transaction
|
||||
|
e) |
Date of the transaction |
02 February 2026 |
||||
|
f) |
Place of the Transaction |
Outside a trading venue |
||||
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