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Vertua Limited (VERA.NSX) Cosmos Investment Impact

·2-min read
Vertua Limited
Vertua Limited

Vertua Limited (VERA.NSX) Cosmos Investment Impact

Sydney, Australia, Feb 22, 2021 - (ABN Newswire) - Vertua Limited (NSX:VERA) refers to previous disclosures about its shareholding in Cosmos Capital Limited (Cosmos), a leading Digital Infrastructure provider, with a focus on Bitcoin mining, including its announcement of 8 January 2021.

Vertua has accepted the takeover offer from Wize Pharma, Inc (OTCMKTS:WIZP) (Wize) to acquire its 400,000 shares in Cosmos, in exchange for 24,444,000 shares in Wize. On 18 February 2021, Wize declared the offer unconditional. Vertua expects to receive its shares in Wize by the end of March 2021.

A portion of the Wize shares will be subject to a restriction agreement which will result in some of the Wize shares being forfeited should Vertua sell some of the Wize shares prior to 31 December 2021.

The announcement that the bid is unconditional and acceptance by Cosmos reflects a material change in the value of the investment Vertua holds. As at 30 September 2020, Vertua held the total investment in Cosmos at its then market value of $3,500,000.

Based on the 7-day VWAP and the closing price of a Wize share of USD0.89 and USD1.19 on Friday 19 February 2021 (US Time) (Saturday 20th Australian time) respectively, and assuming an AUD/USD FX rate of 0.78, this reflects a potential value of Vertua's investment in Cosmos of AUD21.7 million and AUD37.3 million respectively.

Vertua will not be giving any further guidance on this matter for the period up to the Company's year ended 31 March 2021.


About Vertua Limited:


Listed on the National Stock Exchange of Australia.

Issue Code: VERA
Issue Name: Vertua Limited A Class
Issue Type: 01 - Ordinary
ISIN: AU00000VERA0


Industry: Financials
Nominated Adviser: Vertua Limited
Listed Date: Wednesday, 28 February 2007




Source:
Vertua Limited

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