Decentralised finance (DeFi) incubator AQRU PLC (AQSE:AQRU) has announced a review of its operations in order to make the AQSE-listed group a “leaner, more efficient business”.
Further to AQRU’s measures to streamline its cost base conducted last year, the company has continued to downsize its employee base and it has additionally streamlined its investment pipeline.
As part of this operational review, the board will consist of Mike Edwards as executive chairman, Nicholas Lyth as chief finance officer and Mark Rutledge as the independent non-executive director.
AQRU has also restructured its digital asset businesses including the AQRU app, Maple Finance and other technology businesses, having transferred its interest in those businesses to Langland Software Solutions in exchange for a 30% stake in that company.
Langland is controlled by AQRU co-founder Phil Blows (who is also a director), who will continue to operate these assets.
Customers of these products should not experience any disruption in their services.
Following this restructuring, AQRU now only holds its investment in NFT Investments PLC (AQSE:NFT), StreaksAI, London Carbon Exchange and private equity investments made prior to its flotation, in addition to the 30% stake in Langland and approximately £1 million in cash and crypto tokens.