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Mindflair PLC (AIM:MFAI) shares leapt 26% to 1.01p after the AI investment company said it was selling its entire stake in Visibility Blockchain Ltd, known as Getvisibility, for an expected €2.1 million (£1.8 million) in cash.
The sale of its directly held stake has been agreed with Forcepoint, a specialist in data and cloud security.
Mindflair said it expects to receive a total of roughly £2.6 million in cash from other indirect interests in Getvisibility, namely its investment in the Sure Ventures and one of its funds.
The disposal represents a return of six times the direct investment, while the carrying value was £1.2 million on an unaudited basis.
Mindflair said it will use part of the cash to settle outstanding loan notes amounting to circa £800,000 and accrued interest.
Getvisibility specialises in data visibility and control, using state-of-the-art artificial intelligence to classify and secure unstructured information.
