Quantum Blockchain Technologies PLC (AIM:QBT) has announced changes to the sale and repurchase agreement (REPO) between its chief executive and chairman Francesco Gardin, and MC Strategies.
According to the update, the repurchase term for five million ordinary shares of 0.25p each has been extended from 30 September 2024 to 31 December 2024.
In addition, the repurchase price has been amended from 3.441p to 3.483p per share.
This adjustment represents a 5% yearly interest rate on the original purchase price of 3p per share. No other terms of the REPO have been changed.
Beyond the shares covered under the REPO, Gardin is also the beneficial owner of 29,284,149 ordinary shares, representing 2.27% of the company's total issued share capital.