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DJ Coinsilium Group Limited Coinsilium divests from Trac Technology Ltd

 
TIDMCOIN 
 
1 November 2016 
 
                           COINSILIUM GROUP LIMITED 
 
                         ("Coinsilium" or the "Group") 
 
                 COINSILIUM DIVESTS FROM TRAC TECHNOLOGY LTD. 
 
The Coinsilium Board has reviewed TRAC Technology Ltd ("TRAC") against its 
strategy of investing in early stage blockchain focused companies. It has 
concluded that TRAC no longer meets Coinsilium's core criteria and, as a 
result, the Board has decided to take advantage of an opportunity to divest 
its direct 27.3% shareholding in TRAC. Coinsilium will receive consideration of 
US$100,000 for its shares; of which 50% will be paid in cash and the remainder 
will be paid by the issue of 2.6m new shares in Kolar Gold Limited (AIM:KGLD) 
which will be subject to a lock-in period of three months. Kolar Gold Limited 
is managed by CEO Cameron Parry, a former director of Coinsilium Group Limited. 
 
Coinsilium's CEO Eddy Travia stated, "We regularly assess our portfolio against 
our investment remit, which is to invest in and support early stage blockchain 
focused companies. Our review of TRAC's activities and future strategy has 
concluded that they no longer meet Coinsilium's core criteria. Having tested 
the market by holding discussions with two other potential acquirers, the Board 
is satisfied that we were able to negotiate the best possible divestment 
agreement based on TRAC's current market value. Coinsilium has enjoyed working 
with Ralph Hazell and the TRAC team and looks forward to benefitting from 
future developments." 
 
Notes to Editor 
 
About Coinsilium Group 
 
Coinsilium is a London-based blockchain technology focused investment and 
development company, supporting early-stage blockchain companies through 
investment, acceleration, development and education. 
 
Coinsilium is the world's first blockchain technology focused company to be 
admitted to trading on an Exchange Regulated Market and has a portfolio of 
interests in blockchain companies and projects.  In addition to pursuing its 
investment strategy Coinsilium is able to offer a suite of services including 
corporate/business advisory, CPD accredited training & education, investment 
solutions, in-house development and other professional services to blockchain/ 
fintech companies and major corporates wanting to learn more about blockchain 
technology and its implications to the way the world transfers value over the 
internet. 
 
For further information please visit http://www.coinsilium.com/ 
 
Or please contact the following: 
 
Eddy Travia / Laurent  Coinsilium Group Limited      +44 (0) 207 099 0740 
Kssis 
 
Peter Shea / Asha      Daniel Stewart & Company      +44 (0) 207 776 6550 
Chotai                 (Corporate Adviser) 
 
Nick Emerson / Andy    SI Capital Limited            +44 (0) 1483 413 500 
Thacker                (Broker) 
 
Jan Skoyles            Coinsilium Group Limited      janskoyles@coinsilium.com 
                       (Marketing) 
 
 
 
END 
 

(END) Dow Jones Newswires

November 01, 2016 03:00 ET (07:00 GMT)