This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

11 April 2024

Supernova Digital Assets PLC

("Supernova" or "the Company")

Quarterly Trading Update

Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana ecosystem, is pleased to provide the following quarterly trading update regarding its unaudited net asset value.

The Company had the following unaudited major assets as at 3 April 2024:

1)    27,116 Solana tokens

2)    30,000,000 ordinary shares in Phoenix Digital Assets plc

3)    76,332,000 ordinary shares in Streaks AI plc

4)    Cash at hand

As at 3 April 2024, the unaudited net asset value of the above was £5.86m which equated to 0.36p per share.

Proposed return of value to shareholders

As previously announced, the Company intends to return value to shareholders by way of a share tender offer under which the shareholders would have the opportunity to sell shares on a pro-rated basis. A purchase of shares by tender offer would be subject to both shareholder approval and the consent of the Court to a reduction of capital required to create distributable reserves.

Michael Edwards, Executive Chairman of Supernova Digital Assets, commented: "Our focus has always been on maximising shareholders return and it has become clear that a commitment to returning capital in the best strategy for all shareholders. We are delighted by our timing and the subsequent positioning of our crypto treasury which is now a majority invested in liquid crypto assets like Phoenix Digital Assets (PNIX) and SOL. We remain in service to maximising shareholder return and will keep the market regularly updated moving forward towards the PNIX tender offer." 

The Directors of Supernova Digital Assets PLC take responsibility for this announcement.

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About Supernova Digital Assets:

The Company will look to identify investment and business building opportunities in the high growth Solana and crypto currency ecosystem. The Board intends to deploy the majority of the Company's cash resources in the acquisition of minority interests in a number of different, yet to be identified, companies in the broad Solana and crypto currency ecosystem, and to apply expertise to the business operations and strategic plans of these companies. The experience, operational skills and contacts of the Board are intended to act as an accelerator to start-ups and early-stage companies to maximise their profit opportunity. It is anticipated that returns to Shareholders will be delivered through a combination of an appreciation in the Company's share price and through the adoption of a progressive dividend policy. The Company's Directors have an established track record, experience and networks in the crypto currency sector, digital assets management, as well as the media industry to drive value creation.