LONDON, UK: Valereum Blockchain, the Gibraltar technology group, has signed an agreement to acquire the entire issued share capital of the Juno Group of Companies.
The consideration for the purchase of Juno is £850,000. £500,000 to be paid in cash on completion and £350,000 payable in Valereum shares at the prevailing share price on the one-year anniversary of completion. The transfer and change of control and management are subject only to the approval of the Gibraltar Financial Services Commission.
Juno Group is a long-established Gibraltar based group whose three areas of licensed operation cover the formation and management of trusts and similar entities, the administration of funds covering a broad range of activities, including both fiat and crypto currencies, and the formation and management of companies in Gibraltar and other jurisdictions worldwide.
On completion, Alan Gravett, a director of Valereum Blockchain, will become Chairman of Juno. Alan has a distinguished history of trust and company management in Gibraltar from his days at Barclays where he helped develop Barclays Trust’s operations in Gibraltar.
Valereum Blockchain also announced an Extraordinary General Meeting of shareholders (EGM), where a resolution will be proposed to change the company’s name from Valereum Blockchain Plc to Valereum Plc.
Directors of the Company believe that the new name better reflects the breadth of the Company’s business activities rather than the previous narrow focus.
Richard Poulden, Chairman of Valereum commented: “This acquisition is an important part of building the Valereum Bridge to provide a fully regulated link between the fiat and crypto worlds and complements the Company’s efforts with respect to the Gibraltar Stock Exchange. The planned shortening of our name in January 2022 to Valereum Plc reflects the continued broadening of Valereum’s activities and the global vision of its management.”
Russell Johnston, majority shareholder and outgoing Chair of Juno commented: “The excellence of Juno’s staff and the global reach of its fund and fiduciary client base made it a compelling fit for Valereum’s growth plans. In agreeing to this acquisition, Juno has ensured that its clients and employees alike will benefit from being part of a large, growing and ambitious financial services group.”
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