Update on Sipiem Court Case
Summary by AI BETAClose X
11 August 2026
Quantum Blockchain Technologies plc
("QBT" or the "Company")
Update on Sipiem Court Case - Property Auction
Quantum Blockchain Technologies plc (AIM: QBT), the AIM-listed investment company, is pleased to provide a further update on the recovery actions being pursued by its wholly owned subsidiary, Clear Leisure 2017 Limited ("CL2017"), in relation to the judgment obtained against a defendant in the Sipiem in Liquidazione S.r.l. ("Sipiem") matter.
Further to the Company's announcement of 3 July 2026, in which it reported that the Court of Biella, Italy had dismissed the Sipiem defendant's appeal and confirmed the validity of the enforcement proceedings ( pignoramento immobiliare ) over a real estate asset of the defendant (the third property asset, as originally referred to on the 19 March 2026 announcement), the Company now announces that the Court of Biella has published the formal Notice of Sale ( Avviso di Vendita - Primo Esperimento ) for this property.
The auction is scheduled for 20 October 2026 . The property has been independently valued by the court-appointed surveyor at approximately €272,600 , with a minimum starting bid price of €204,450 , in line with the valuation previously disclosed by the Company.
Proceeds from any successful sale, net of procedural costs, would represent a recovery of the amount awarded to CL2017 pursuant to the final judgment of the Venice Court of Appeal (as announced on 18 June 2024).
The current status of the three confiscated assets is as follows:
- The first asset was due to be offered at auction with an initial asking price of €287,157 on 6 May 2026. However, the auction was suspended after the defendant filed for court-supervised liquidation ( procedura di liquidazione controllata ), as announced on 10 April 2026. As a result, the Italian Court has issued an order staying the sale of the asset pending a new auction date, which will be conducted under a different procedure.
- The second asset, held by the same defendant as the first one, is also included in the procedura di liquidazione controllata / court-supervised liquidation. Accordingly, the Company continues to await the liquidator's scheduling of the auction sale.
- The third asset, which is held by a different defendant, has been described above.
The Company will provide an update following the outcome of the auction process and will also provide updates on the first and second assets once auction dates for those assets are known.
This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation and is disclosed in accordance with the Company's obligations under Article 17 thereof.
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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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