CoinShares announces block transaction by shareholder and share buyback

CoinShares International Limited (“CoinShares” or the “Company“) (Nasdaq Stockholm Market: CS; USOTCQX: CNSRF), Europe’s largest and leading digital asset investment and trading group, today announced that it has agreed to enter a two block transactions with two shareholders to acquire 196,654 ordinary shares in the capital of the Company.

Subject to completion of the block transactions, the Company will repurchase from the selling shareholders a total 196,654 ordinary shares at a price per share equal to SEK 24 resulting in total consideration of SEK 4,719,696 (approximately GBP 372,856). The Company expects the block transactions to settle via cash and to complete before 20 January 2023.

CoinShares’ decision to repurchase its shares is consistent with the Board’s stated intent regarding the buyback program and for the purposes of reducing the capital of the Company. Jean-Marie Mognetti, CoinShares’ Chief Executive Officer, stated “We are pleased to announce the repurchase of a meaningful amount of our own shares in-line with CoinShares’ capital allocation strategy.”.

The total number of shares in CoinShares is at the date of this press release 68,213,821. At the time of this press release the Company holds 82,886 own shares.

CoinShares is Europe’s largest and leading digital asset investment and trading group, managing billions of assets on behalf of a global client base. Our mission is to expand investing into digital assets with our trusted, regulated, best-in-class product suite that provides investors with trust and transparency when accessing cryptocurrencies. We believe that Bitcoin and blockchain networks are landmark innovations that will fundamentally reshape the global financial system and the way we interact digitally, and investors should be able to participate in this transformation. CoinShares is publicly listed on the Nasdaq Stockholm under ticker CS and the OTCQX under the ticker CNSRF. CoinShares has multiple touchpoints with financial regulatory bodies around the world, including the AMF, JFSC and FINRA.

Original link: Block3Wire