LONDON: Vinanz Limited (US OTCQB: VINZF and AQSE: BTC in London), a publicly listed Bitcoin mining company, has announced its intention to apply for the listing of its ordinary shares on the Official List of the Financial Conduct Authority (FCA) and trading on the main market of the London Stock Exchange (LSE).
This move is subject to the approval of a prospectus by the FCA and the admission of ordinary shares to the Official List and Main Market of the LSE.
In preparation for the listing, Vinanz has reviewed its capital structure and decided to eliminate all unlisted options and warrants, replacing them with ordinary shares. This restructuring is aimed at simplifying the company’s share capital structure. Additionally, all shares in the Employees Benefit Trust (EBT) have been fully distributed.
Following these changes, Executive Chairman David Lenigas now holds 55,668,976 ordinary shares, representing 22.88% of the company’s issued share capital. Finance Director Jeremy Edelman holds 55,188,976 ordinary shares, representing 22.68% of the issued share capital. First Sentinel Corporate Finance Limited holds 10,000,000 ordinary shares (4.11%), and Clear Capital Markets Limited holds 31,409,257 ordinary shares (12.91%).
Vinanz has applied to the Aquis Stock Exchange for the admission of 75,909,257 ordinary shares to trading, with trading expected to commence on or around December 10, 2024.
Total Voting Rights Statement: The total number of issued ordinary shares with voting rights is now 243,356,194. Shareholders can use this figure for determining the need to notify changes in their interests in the company’s issued share capital.
Related Party Transaction: David Lenigas and Jeremy Edelman, as directors, are considered “Related Parties” under the AQSE Growth Market Access Rulebook. The surrender of warrants and EBT share distribution related to them constitutes a related party transaction, deemed fair and reasonable by the independent director.
David Lenigas commented, “We are progressing with our application for an LSE listing, with the fourth draft prospectus under FCA review. This capital reorganisation aims to comply with UK Listing Rules and simplify our structure. We anticipate that an LSE listing will attract a broader pool of shareholders.”
Vinanz will provide further updates on the LSE/FCA application as significant developments occur.