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Advanced Blockchain AG
Legal Proceedings Report • Sep 30, 2024
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Legal Proceedings Report
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Ad-hoc | 30 September 2024 08:30
Advanced Blockchain AG: New portfolio valuation and examination of legal measures
Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain
Advanced Blockchain AG: New portfolio valuation and examination of legal measures
30-Sep-2024 / 08:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG: New portfolio valuation and examination of legal measures
- Correction of the portfolio valuation as of 31 December 2023 and publication of the current portfolio valuation as of 30 June 2024
- Examination of civil and criminal measures against the previous sole Member of the Management Board Simon Telian and possibly other related persons
Berlin, 30 September 2024 – Advanced Blockchain AG (ISIN: DE000A0M93V6, WKN: A0M93V, Ticker: ABX) today publishes the updated portfolio valuation of its Top15 token portfolio holdings as of 30 June 2024. The cumulative value of all Top15 tokens amounts to around USD 30 million. As part of the ongoing investigations into the 2023 financial year and the first half of 2024 and the review of the valuation results for the token holdings, it was determined that the company had incorrectly submitted a significantly too high holding of a single token to the valuation company and that the company’s notification of 21 February 2024, which reported the total value of the Top 10 token portfolio at EUR 57.5 million, was therefore incorrect. The present valuation as of 30 June 2024 now takes into account the correct holdings of the respective tokens and relates to 15 token holdings, instead of 10 token holdings as of 31 December 2023.
Based on the current interim status of the ongoing investigations, in particular into the financial years 2023 and the first half of 2024, but also previous periods, the Supervisory Board is currently examining the implementation of civil and criminal measures, both against the previous sole member of the company’s Management Board, Simon Telian, and other persons closely associated with the company, in particular due to the betrayal of business secrets and the misappropriation of company funds.
Investor Relations contact
Hatem Elsayed, COO
+49-(0)40-6091-8677
End of Inside Information
30-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | +4930403669511 |
| E-mail: | [email protected] |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1997885 |
| End of Announcement | EQS News Service |