DJ High Growth Capital PLC Acquisition of Intellectual Property Rights
RNS Number : 9766V
High Growth Capital PLC
12 April 2019
12 April 2019
High Growth Capital plc
("HGC" or the "Company")
Acquisition of Intellectual Property Rights
Acquisition of all existing and in-development Intellectual Property Rights ("IPR", project "SDG")
HGC is pleased to announce the acquisition of all existing and in-development IPR from BDD a company that was incorporated under the laws of Malta in 2018, for a consideration of GBP4,000,000 settled through the issue of 400,000,000 ordinary shares in the Company at a price of 1p per share credited as fully paid. Going forward the Company will refer to this as "SDG" or "project SDG".
In 2016, SDG founder Christopher Akers originated the innovative idea to raise at least US$1.0bn through an annual global blockchain raffle initiative. As part of this initiative, around 50% of the raffle proceeds are to be allocated to a dedicated number of high impact human / social and environmental conviction initiatives in close collaboration with various leading charities and good causes. The intention is for the initiative to be supported proactively by multiple leading global brands and admired individuals from all walks of life. Together with the raffle participants various high profile initiatives are expected to be curated and delivered around the world throughout the year. Sentiance, will play an important role in the core and distinct service proposition.
Development and controlled stage delivery process
It is the intention that over the next several months a new dedicated business structure for SDG is established. In this construct, equity shall be made available to the organization and a small number of other stakeholders deemed crucial for the final development and first activation steps of SDG. As a first step the Directors intend to deal with a number of clearly identified and manageable risk factors. This should be achievable in a timely fashion and with a limited amount of resources.
It is the current intention that prior to calendar year end 2019 a final decision is made in conjunction with the SDG stakeholders to activate the first draw during the second half of 2020. Further information will be provided during the Company's regular shareholder updates.
Commenting on today's announcements, Jens Zimmermann Chairman of HGC said; "We have a bold vision that the current digital, proprietary content, human connectivity landscape will change fundamentally in the years to come. Sentiance, will add considerable value to SDG, which in itself has the opportunity to significantly contribute to the creation and delivery of a sustainable global human economy. We look forward to developing SDG into a transformative high quality long-term asset in close conjunction with Chris during the months ahead."
Christopher Akers, Founder of SDG said: "HGC's 360 degrees vision is entirely aligned with how SDG thinks to empower the Environment, Social and Government sector on a global basis. Enabling people around the world and from all walks of life to proactively contribute to a positive and progressively improving society. Inclusiveness, authenticity and undeterred determination are some of the basic ingredients that will make SDG stand out from the crowd and deliver something the world has never seen before."
Total number of ordinary shares
Following the issue of the 400,000,000 new Ordinary Shares as consideration for the BDD IPR, the Company will have 3,306,179,537 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury. The total number of voting rights in the Company will therefore be 3,306,179,537.
The Directors of the Company accept responsibility for this announcement.
Jens Zimmermann Rupert The Company Horner +44 (0)207 583 4055 Peterhouse Capital Limited NEX Exchange Corporate Guy Miller and Eran Adviser Zucker +44 (0)207 220 9795 ---------------------------- -------------------- Hilary Buchanan Alma PR Caroline Forde +44 (0)203 405 0205 ---------------------------- --------------------
About High Growth Capital Plc
We have a bold vision that the current digital, proprietary content, human connectivity landscape will change fundamentally in the years to come. In the months ahead our plan is to ensure that our Company can play a pivotal role in these exciting and tangible opportunities. Enhanced personalisation, individual control of data, connectivity and engagement are likely to result in the emergence of a much more inclusive human economy delivering tangible and progressive benefits to all stake.
Nearly 2.5 billion people or one-third of the 7.7 billion worldwide population live on less than US$1.90 a day, and more than 1 billion suffer from chronic hunger. This number continues to grow as humanitarian disasters, natural catastrophes, conflict zones, global displacements, climate change and political turmoil create newly poor groups. Respect for human rights, meeting basic human needs and more equitable distribution of wealth are clear priorities for the eradication of poverty. Ultimate success, however, will only be ensured when there is a willingness and commitment on the part of the non-poor to assist in the elimination of the human degradation that poverty creates.
Earlier examples of successful philanthropic missions include those such as the Bill & Melinda Gates Foundation, which in 2017 spent nearly US$6 billion on its dedicated causes and works with partner organisations worldwide to tackle critical problems in four program areas including a Global Development Division. In 2010 Bill Gates and his wife together with Warren Buffett launched "The Giving Pledge", an effort to encourage the wealthiest families in the US to donate the majority of their wealth to philanthropic causes and charities.
It is SDG's and HGC's belief that authentic audience engagement together with smart and relevant technology can play an important role to drive these types of initiatives forward, contributing to the creation and delivery of a sustainable global human economy.
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(END) Dow Jones Newswires
April 12, 2019 02:00 ET (06:00 GMT)