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Quantum Blockchain seeks to amend bond maturity, conversion price
By Marisa Wong
Los Angeles, Jan. 18 – Quantum Blockchain Technologies plc is calling a meeting to seek bondholders’ approval to amend its zero-coupon bonds issued in 2013, according to a Thursday press release.
The company is proposing to extend the maturity of the bonds to Dec. 15, 2026 from Dec. 15, 2024 and to amend some terms of the bondholders’ conversion right, modifying the conversion price to £0.03 from £0.05.
All holders are entitled to vote on the proposals. The company said that Eufingest SA, which holds 62.5% of the bonds, has confirmed it intends to vote in favor of the proposals.
The current total face value of the bonds is €5.4 million.
The bondholders’ meeting will be held on Feb. 22.
The meeting requires a quorum of two bondholders holding at least 66.66% of the bonds. If the meeting lacks a quorum, it will be adjourned for 14 days. At any adjourned meeting, any number of bondholders will represent a quorum.
Further information may be obtained from the company (Francesco Gardin, chief executive officer and executive chairman, +39 335 296573), nominated adviser and broker SP Angel Corporate Finance (Jeff Keating, +44 20 3470 0470; Kasia Brzozowska) and financial PR Leander (Christian Taylor-Wilkinson, +44 77 9516 8157).
Quantum is a London-based investment company with a focus on technology-related investments, with special regard to quantum computing, blockchain, cryptocurrencies and AI sectors.
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