Renewal of Warrants
Quantum Blockchain Technologies plc has announced the renewal of warrants, granting approximately 269,500,000 new ordinary shares to directors, employees, and consultants, with 136,000,000 exercisable at 2.5 pence and 133,500,000 at 5 pence, all expiring on December 31, 2028. This issuance, which represents about 17% of the non-diluted issued share capital, aims to maintain alignment between management and shareholders following the expiry of previous arrangements. Notably, 210,000,000 warrants were issued to directors, including 200,000,000 to Infusion (2009) Ltd, a related party to the CEO, and 5,000,000 warrants to former directors remain outstanding until December 2026. The company's nominated adviser considers the terms fair and reasonable for shareholders.
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QBT (AIM: QBT), the AIM-listed research and development company focused on blockchain technologies, is pleased to announce that, further to the expiry of previously issued warrants on 6 May 2026, the Board has approved the grant of new warrants over approximately 269,500,000 ordinary shares of £0.0025 each in the capital of the Company (the "Warrants") to certain directors, employees and consultants.
The Warrants are being granted on substantially the same basis as the expired instruments, with the same number of warrants being reallocated to the same recipients, save for:
•
the removal of allocations to former directors who have passed away;
•
an increase in allocation to a key employee; and
•
an increase in allocation to Mark Trafeli and Vladmir Kusznirczuk, the Company’s non-executive directors.
136,000,000 Warrants will be exercisable at 2.5 pence each, and 133,500,000 Warrants will be exercisable at 5 pence each. All Warrants will expire on
. The Warrants vest immediately and are being issued under a new warrant instrument.
The purpose of the grant is to ensure continued alignment of management, employees and consultants with shareholders following the lapse of the previous warrant arrangements.
An additional 5,000,000 of the old warrants originally issued to the late former Non-Executive Director; Reg Eccles remain in issue until December 2026.
Further to the grant of the Warrants, the total number of the Company’s warrants represents approximately 17% of the non-diluted issued share capital of the Company.
Issue of Warrants to Directors
59,500,000 of the Warrants were issued to employees and consultants of the Company, and 210,000,000 of the Warrants were issued to directors of the Company, as set out in the table below:
| Grantee | Position | No. of Warrants | Exercise price (pence per share) |
| Infusion (2009) Ltd | Related Party to Francesco Gardin (CEO and Chief Research Officer) | 100,000,000 100,000,000 | 2.5p 5p |
| Mark Michael Trafeli | Non-Executive Director | 2,500,000 2,500,000 | 2.5p 5p |
| Vladimir Basilio Kusznirczuk | Non-Executive Director | 2,500,000 2,500,000 | 2.5p 5p |
Infusion (2009) Ltd is a company ultimately controlled by Professor Francesco Gardin, the Company’s CEO.
Related Party Transaction
The grant of Warrants to Directors of the Company, being Francesco Gardin, Mark Trafeli and Vladimir Kusznirczuk (or their service companies), constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.
As all of the Directors are being issued with Warrants, there are no Directors independent of the issue of Warrants. Accordingly, SP Angel Corporate Finance LLP, the Company’s nominated adviser, considers that the terms of the above grant of Warrants are fair and reasonable insofar as the Company's shareholders are concerned.
Further details of the transactions for the purposes of Article 19 of the UK Market Abuse Regulation are set out below.
| 2. | Reason for the notification | |||||
| a) | Position/status: | 1) Related party to CEO/CRO 2) Independent NED 3) Independent NED | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Quantum Blockchain Technologies plc | ||||
| b) | LEI: | 213800FC5DEC582CRZ89 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Warrants GB00B50P5B53 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
.5p 100,000,000 5p 100,000,000 2 2.5p 2,500,000 5p 2,500,000 3 2.5p 2,500,000 5p 2,500,000 | ||||
| d) | Aggregated information: Aggregated volume: Price: | 105,000,000 issued at 2.5p 105,000,000 issued at 5p | ||||
| e) | Date of the transaction: | 28 May 2026 | ||||
| f) | Place of the transaction: | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.