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Connecting Excellence Group PLC Announces Treasury up By 10 BTC to 72.941 & £655,999 Raised
Subscriptions raising £655,999 and Bitcoin treasury increased to 72.941 BTC
Investment of a further 10 Bitcoin by strategic investor Adam Back, alongside further subscriptions, raising £655,999 in aggregate and increasing XCE’s Bitcoin treasury to 72.941 BTC
LONDON, UK /ACCESS Newswire/ September 1, 2026 /Connecting Excellence Group Plc (AQSE:XCE)(OTCQB:XCELF), the international executive recruitment group with a long-term, ambitious and disciplined Bitcoin (BTC) treasury strategy, announces that Adam Back, an existing key strategic investor, has agreed to subscribe for new ordinary shares of £0.000001 each (“Ordinary Shares”) in the Company through the transfer of 10 BTC to XCE (the “Back Subscription”), alongside subscriptions by two further investors (together with the Back Subscription, the “Subscriptions”).
The Back Subscription has been completed at a BTC valuation of £57,799.90 per BTC, representing an aggregate subscription value of £577,999. Pursuant to the Back Subscription, Adam Back will receive 38,533,267 new Ordinary Shares in the Company at an issue price of 1.5 pence per Ordinary Share (the “Issue Price”). Two further investors have subscribed for 5,199,999 new Ordinary Shares at the same Issue Price, raising a further £78,000, of which £50,000 is subscribed in cash and £28,000 by an adviser to the Company who has elected to receive Ordinary Shares in place of a cash fee. The Subscriptions therefore comprise 43,733,266 new Ordinary Shares (the “Subscription Shares”) raising £655,999 in aggregate.
The Issue Price represents a premium of 3.4% to the closing mid-market price of 1.45 pence per Ordinary Share on 28 August 2026.
The Subscription Shares will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Following completion of the Subscriptions, the Company will hold 72.941 BTC in its Bitcoin treasury, an increase of 15.9%, and an increase in Bitcoin per Share of 6.34% (fully diluted) and 5.02% (issued).
Adam Back is a significant shareholder in XCE and has been a longstanding supporter of the Company’s strategy. The Company considers the Back Subscription to further demonstrate the alignment of its strategic investors with XCE’s long-term approach to combining the growth of its executive recruitment operations with a disciplined Bitcoin treasury strategy. Following Admission, Adam Back will hold 135,482,474 Ordinary Shares in the Company, representing 29.0% of the Company’s enlarged issued share capital.
Shareholders are referred to the Company’s separate announcement released today, in which the Company announces heads of terms for the Group’s first acquisition of an operating business, together with a trading update.
Source: finance.yahoo.com