Frank Spiteri, Head of Asset Management, and member of the executive committee at CoinShares International Limited, a global investment company specialising in digital assets, has left the business according to a press release.
As part of Spiteri’s departure arrangements, CoinShares has confirmed that the company will repurchase 1,019,995 vested stock options previously issued to Spiteri under the company’s employee incentive programme and such stock options will be cancelled following completion of the transaction outside the market.
The company has also entered into an agreement to buy back 435,500 ordinary shares from Spiteri and his related parties, with the repurchase set to be executed as a block transaction.
Both transactions were concluded at an average consideration per share of SEK66.42.
Each of the transactions have been approved by the Board of Directors and are in compliance with applicable securities regulations.
Ina statement, CoinShares said it remains focused on delivering its strategic roadmap and continuing to offer further value to its investors, partners, and shareholders and that its “existing team will continue to uphold the high standards that clients and partners have come to expect under the leadership of its executive committee.”
