KR1 plc - Result of AGM and Statement
PR Newswire
London, November 1
1 November 2022
KR1 PLC
("KR1" or the "Company")
Result of AGM and Statement
KR1 plc (KR1:AQSE), a leading digital asset investment company, announces that at the Annual General Meeting ("AGM") of the Company, held earlier today, all resolutions were duly passed.
George McDonaugh and Keld van Schreven, Managing Directors of KR1 plc, commented:
"Since the announcement of KR1's interim results on 30 September 2022, market conditions have remained as expected with the digital asset market still being in a prolonged downturn. Major factors contributing to the downward pressure include the volatile global macroeconomic environment, regulatory uncertainty as well as the deleveraging of various businesses in the crypto industry. However, we firmly believe that the investment case for digital assets remains strong, buoyed by increasing institutional buy-in and continued innovation utilising blockchain technology.
In the current period, the Company has been active in the Ethereum, Polkadot and Cosmos blockchain communities, attending key conferences including Ethereum's Devcon as well as Polkadot's Decoded, among others. With that, we continue to explore seed and early-stage investment opportunities, as valuations for early-stage funding rounds normalise in line with the progression of the 'bear market', and have been introduced to a wave of innovative new projects, which are yet to hit the market.
While overall portfolio asset prices remain depressed, revenue from staking activities, a core part of the Company's strategy, has been consistent throughout the period, providing a reliable source of income to the Company while protecting underlying assets from being diluted."
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 PLC George McDonaugh Keld van Schreven | +44 (0)1624 630 630 |
| Peterhouse Capital Limited (AQSE Corporate Adviser) Mark Anwyl | +44 (0)20 7469 0930 |
| FTI Consulting LLP (PR Adviser) Laura Ewart Gina Magnin | +44 (0)7711 387 085 KR1@fticonsulting.com |
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the longest and most successful track records of investment in the digital assets space by investing in decentralised platforms and protocols that are emerging to form new financial and internet infrastructures.
www.KR1.io
