Valereum Receives Consent from GFSC to Acquire Gibraltar Stock Exchange

Valereum Plc has received consent from the Gibraltar Financial Services Commission (GFSC) to complete the acquisition of the Gibraltar Stock Exchange (GSX). The deal is subject only to conventional conditions pertaining to regulatory and working capital as required.

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The future focus of GSX will be to expand the access to European capital for early stage and small-cap companies in the Middle East, India and Africa where there is a huge opportunity to empower entrepreneurs across the region.

In addition, Valereum will be launching its NFT strategy in the first quarter of next year linking real world assets via NFT ownership.

Also today, Valereum announced that its candidates for the new board of the GSX have all been approved by the GFSC, including Chairman Richard Poulden, the Chairman of Valereum Plc, Executive Director Patrick L Young, Chief Financial Officer Jack Sun, Non-Executive Directors Simon Brickles and James Lasry

"We are delighted to have received this news from the GFSC and look forward to completing the acquisition of the GSX. It is auspicious to be announcing this on the day of the Gibraltar Financial Services Lunch in London,"Chairman Richard Poulden noted."We have ambitious plans for the GSX and for Valereum linking the fiat and digital worlds. All our expansion plans will be fully regulated in the environments in which we plan to operate."

"The GSX will harness proven exchange technology from established providers and will be updated with full front to back trading and clearing functionality on a significant scale and expandability."

The acquisition is expected to be completed in the first quarter of 2023.