Correction to announcement of 15 April 2026: Court of Appeal Damages Award
Summary by AI BETAClose X
16 June 2026
Correction: This replaces the announcement released at 07:00 on 15 April 2026 that contained a comment querying the total expected recovery amount. This amount was correct although reference to approximately €4,500 of general expenses has now been added for clarity. The full updated announcement is provided below .
Quantum Blockchain Technologies plc
("QBT" or the "Company")
Court of Appeal Damages Award
in Favour of QBT Subsidiary Clear Leisure 2017 Limited
Quantum Blockchain Technologies plc (AIM: QBT), the investment company focused on blockchain technologies, announces that its wholly owned subsidiary, Clear Leisure 2017 Limited ("CL2017"), has received a favourable judgment from the Court of Appeal of Turin, Italy.
The Court has fully upheld CL2017 ’ s appeal, overturning the trial court’s decision and ordering the defendant to pay:
• €38,500 damage award, plus
• statutory interest accruing from 7 December 2020 and which will continue to accrue until the damage award is paid in full, and
• legal costs totaling approximately €15,000.
The Court also rejected the defendant ’ s attempt to set off the debt on the basis of alleged counterclaims.
Background to the case
The claim originates from a transaction in 2019 involving the sale of a 30% equity interest in Beni Immobili S.r.l., by CL2017’s predecessor, under which the defendant agreed to pay €45,000 in instalments.
Following completion of the transaction however, only payments totaling €6,500 were received, leaving an outstanding balance of €38,500.
In November 2020, CL2017 acquired this receivable from Sipiem S.p.A. in liquidation at a discounted price.
Estimated Financial Impact
Based on applicable statutory commercial interest rates since December 2020, the Company estimates that accrued interest to date of approximately €20,000, together with the legal costs and damage award, plus approximately €4,500 of other general expenses may be recovered by CL2017 from the defendant.
This brings the total expected recovery to approximately €78,000.
Next Steps
CL2017 will now proceed with enforcement actions to recover the awarded sums.
Francesco Gardin, CEO and Executive Chairman of QBT, commented: "This ruling validates our approach in pursuing legacy assets and confirms the strength of our legal position. We will now take the appropriate steps to enforce the judgment and maximise recovery."
-ends-
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information please contact:
Quantum Blockchain Technologies Plc +39 335 296573
Francesco Gardin, CEO and Executive Chairman
SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0) 20 3470 0470
Caroline Rowe / Devik Mehta
Leander (Financial PR) +44 (0) 7795 168 157
Christian Taylor-Wilkinson
About Quantum Blockchain Technologies Plc
QBT (AIM: QBT) is a London Stock Exchange AIM listed Research & Development and investing company focused on an intensive R&D programme to disrupt the Blockchain Technologies sector which includes, cryptocurrency mining and other advanced blockchain applications. The primary goal of the R&D programme is to develop Bitcoin mining tools and techniques, via its technology-driven approach, which the Company believes will significantly outperform existing market practices.
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