Question 1

What is Stack BTC buying and for how much?

Accepted Answer

Stack BTC has signed non-binding heads of terms to acquire DB London Ltd, trading as Direct Bullion, a UK precious metals dealer, for aggregate consideration of up to £12 million in cash, new equity and deferred payments.

Question 2

Why is the deal considered a conflict of interest?

Accepted Answer

Paul Withers is a director, substantial shareholder and chief strategy officer of Stack BTC while also being the sole director of Direct Bullion and the sole owner of the company selling it, making it a related-party transaction; Direct Bullion also pays Stack shareholder Nigel Farage £22,500 an hour to promote it.

Question 3

Is the acquisition final?

Accepted Answer

No. The Aquis filing states the reverse takeover still depends on due diligence, definitive documentation, AQSE approval, a new admission prospectus and re-admission to the exchange's Access Segment, and that there is no certainty it will complete.

Stack BTC

Farage-backed Stack BTC agrees £12M reverse takeover of Direct Bullion

One sharp brief.
Every day.

Stack BTC

Farage-backed Stack BTC agrees £12M reverse takeover of Direct Bullion

One sharp brief.Every day.

One sharp brief.
Every day.