NFT Investments eyes tender supply amid widening NAV low cost
NFT Investments PLC – Invests in non-fungible tokens – Says internet asset worth on Monday quantities to three.61 pence per share, together with 2.87p in liquid crypto property. NFT notes “widening share price discount to NAV” and believes the easiest way to amend that is to return worth to shareholders. “In the opinion of the directors, shareholder value can best be achieved by the company trading out the entirety of its current liquid positions at the right time and then returning capital to shareholders. The company currently intends to achieve this by purchasing its own shares through a tender offer under which shareholders would have the opportunity to sell shares on a pro-rata basis,” NFT says. As well as, NFT says it has “no exposure to Silicon Valley Bank and is holding all its crypto assets in cold storage wallets in secure locations across multiple continents”. It provides it has no “online crypto exchange exposure”.
Present inventory worth: 1.51 pence
12-month change: down 34%
By Eric Cunha, Alliance Information information editor
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