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08057 MADISON HLDG
RTNominal up0.179 +0.042 (+30.657%)
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28/09/2018 08:58

Madison to buy stake in virtual currency exchange operator

[ET Net News Agency, 28 September 2018] Madison Holdings Group (08057) said its
indirect wholly-owned subsidiary Madison Lab Limited has entered into the non-legally
binding memorandum of understanding (MOU) with an independent third party regarding the
acquisition of a 67.2% stake of the entire issued share capital of the Target Company.
The Target Company is one of the 16 virtual currency exchange operators registered with
the Financial Services Agency of Japan which conducts virtual currency trading platform
business in Japan.
Madison Lab was also granted an option with a right to further acquire a 6.8% stake of
the Target Company. The option can be exercised within three months from the completion
date of the proposed acquisition. (KL)

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