Online Blockchain Sells Part of Its Ordinary Shares in ADVFN

​Online Blockchain plc (OBC), a London-based blockchain research and development company, announced that it has sold a portion of its interest in ADVFN plc through a series of market sales, for a total consideration of £256,340. ADVFN is a web-based provider of equity, crypto and other financial market data for private investor.

Since OBC's last published announcement regarding its interest in ADVFN on March 29, 2023, the company has sold a total of 1,055,000 ADVFN ordinary shares at an average price of 24.3p per share. The sales proceeds will be used for general working capital purposes, as OBC explained.

OBC's remaining interest in ADVFN is now 3,525,938 ordinary shares, representing 7.7% of the issued share capital of ADVFN and has a current market value of approximately £863,855 based on the last closing mid-market price of 24.5p per ADVFN ordinary share.

According to the announcement, since OBC no long has significant influence over ADVFN, its interest in ADVFN is now considered an arm's length investment.

OBC's primary focus continues to be on the development of Umbria, where the company serves as an adviser, and the upcoming launch of its new non-fungible token (NFT) project based on The Rocky Horror Show.