Proposed Acquisition of the Juno Group in Gibraltar covering Trusts, Fund Administration and Company Administration is a major expansion of Valereum operations;
Notice of EGM and change of name to Valereum Plc
Valereum Blockchain Plc (AQSE: VLRM), the Gibraltar technology group , announces that it has signed an agreement to acquire the entire issued share capital of the Juno Group of Companies (“Juno”).
Juno is a long-established Gibraltar based group whose three areas of licensed operation cover the formation and management of trusts and similar entities, the administration of funds covering a broad range of activities, including both fiat and crypto currencies, and the formation and management of companies in Gibraltar and other jurisdictions worldwide.
On completion, Alan Gravett, a director of Valereum, will become Chairman of Juno. Alan has a distinguished history of trust and company management in Gibraltar from his days at Barclays where he helped develop Barclays Trust’s operations in Gibraltar.
The consideration for the purchase of Juno is £850,000. £500,000 to be paid in cash on completion and £350,000 payable in Valereum shares at the prevailing share price on the one-year anniversary of completion. The transfer and change of control and management are subject only to the approval of the Gibraltar Financial Services Commission.
The Company also announces that an Extraordinary General Meeting of shareholders (“EGM”) will be held on 20th January 2022 at 10:00am (CET) at Suite 16, Watergardens 5, Waterport Wharf, Gibraltar. At the EGM, a resolution will be proposed to change the Company’s name from Valereum Blockchain Plc to Valereum Plc. The Directors of the Company believe that the new name better reflects the breadth of the Company’s business activities rather than the previous narrow focus.
Richard Poulden, Chairman of Valereum commented: “This acquisition is an important part of building the Valereum Bridge to provide a fully regulated link between the fiat and crypto worlds and complements the Company’s efforts with respect to the Gibraltar Stock Exchange. The planned shortening of our name in January 2022 to Valereum Plc reflects the continued broadening of Valereum’s activities and the global vision of its management.”
Russell Johnston, majority shareholder and outgoing Chair of Juno commented: “The excellence of Juno’s staff and the global reach of its fund and fiduciary client base made it a compelling fit for Valereum’s growth plans. In agreeing to this acquisition, Juno has ensured that its clients and employees alike will benefit from being part of a large, growing and ambitious financial services group.”
Notices for the EGM will be posted on the Company’s website: https://valereumblockchain.com/
The Directors of the Company accept responsibility for the contents of this announcement.
Valereum Blockchain Plc
Richard Poulden, Chairman
Tel: +971 4584 6284
Russell Johnston, Chair
Tel: +44 (0) 7973 256042