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DJ KR1 plc Investment Portfolio Update

 
TIDMKR1 
 
KR1 Plc 
 
                           ("KR1" or the "Company") 
 
                          Investment Portfolio Update 
 
KR1 is pleased to announce that the Company has made disposals of the remaining 
holdings in the Golem ("GNT") and Qtum ("QTUM") projects. Both projects have 
reached very mature and self-sufficient stages, which fulfils KR1's key 
business model, to provide capital and support to early-stage projects. 
 
The Company sold the last of its 600,281.9 GNT tokens at an average price of 
USD 0.22 per token for a total of USD 133,679.18. These tokens were initially 
purchased for USD 0.013 per GNT token in late 2016. 
 
The Company has also sold its remaining 20,117.5 QTUM tokens at an average 
price of USD 6.24 per token for a total of USD 125,543.72. These tokens were 
purchased in the first quarter of 2017 for USD 0.31 per QTUM token. 
 
George McDonaugh, Chief Executive Officer of KR1 commented: "Today's 
announcement marks the first time that KR1 has exited from a project's stake in 
its entirety since the Company's inception.  Both projects employ large teams, 
have thriving communities, and early versions of their protocols are deployed 
and working well. It is also clear that there is increased competition in the 
respective verticals from projects like TrueBit, Dfinity or other platforms. It 
has been an incredibly exciting and hugely successful journey that KR1 shared 
with the Golem and Qtum projects over the last two years, and our stakes in 
both enabled us to engage in numerous other investments over that period. 
Should a discrepancy between their technical progress and market sentiment 
arise, we would happily take positions again." 
 
The directors of the issuer accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
Contact Details: 
 
KR1 Plc 
 
Stephen Corran 
 
+44 (0)16 2467 6716 
 
scorran@bridgewaters.co.im 
 
NEX Corporate Adviser 
 
Peterhouse Capital Limited 
 
Fungai Ndoro and Mark Anwyl 
 
+44 (0)20 7469 0930 
 
 
 
END 
 

(END) Dow Jones Newswires

October 02, 2018 02:00 ET (06:00 GMT)