Receipt of 0.516 Bitcoin as Payment for Recruitment Services
LONDON, UK / ACCESS Newswire / April 14, 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, is pleased to announce that Spencer Riley Limited, its flagship executive recruitment business, has received payment in Bitcoin for the provision of executive recruitment services.
The Directors believe that this is the first time a UK-listed recruitment business has invoiced and settled recruitment service fees in Bitcoin. The Bitcoin received has been retained directly in the Group's treasury and will not be converted to fiat currency, in line with XCE's stated strategy of accumulating Bitcoin on its balance sheet. The receipt of Bitcoin as direct payment for recruitment services represents a tangible demonstration of XCE's integrated dual strategy: with Spencer riley, the groups flagship executive recruitment business generating Bitcoin directly onto the Group's balance sheet, increasing BTC per share, without the deployment of capital or the issuance of new equity.
The Company intends to actively continue offering Bitcoin as a settlement option to clients across Spencer Riley's and any future acquisitions candidate and client networks, with further payments of this nature anticipated as Bitcoin adoption among international corporates continues to grow.
Details of Receipt:
BTC Received: 0.516
GBP Value: £27,472.50 (at £53,217.00 per BTC at date of receipt)
USD Value: $36,967.00 (GBP/USD exchange rate of $1.3456)
Total BTC Treasury (post-receipt): 52.941 BTC
BTC Yield* (QTD, Q2 2026): +0.98%
Treasury Summary:
Total BTC Holdings: 52.941
BTC received from recruitment services (this announcement): 0.516
BTC Yield* for Q2 2026 (to date): +0.98%
BTC Yield* since IPO (11 December 2025): +442.2% (including 10 BTC as part of the XCE BTC Bond)
*as defined below
Scott Ellam, Chief Executive Officer at Connecting Excellence Group, commented: "Receiving Bitcoin as payment for recruitment services is a landmark moment for XCE and, we believe, the first for a publicly listed recruitment business.
"Our dual flywheel business model is working as designed: our executive recruitment operating business generates revenue, that revenue generates Bitcoin, and that Bitcoin compounds directly on our balance sheet, strengthening the Bitcoin treasury strategy without issuing a single new share. As we secure a significant proportion of our revenues internationally and have established a Bitcoin executive recruitment division, we intend to make Bitcoin settlement a standard offering across our client base, and we expect this to become an increasingly important channel for treasury growth as corporate Bitcoin adoption continues to grow."
About Connecting Excellence Group Plc ("XCE"):
XCE is an international executive recruitment group with a long term, ambitious and disciplined Bitcoin treasury strategy. The flagship recruitment company, Spencer Riley, places senior executives with clients globally across a number of high growth markets including engineering, logistics, life sciences, automation, tech, professional services and B2B services.
The Bitcoin treasury strategy sets the foundation for the Company's scalable recruitment business to attract and retain high performing talent with individual performance linked share option incentives to increase revenue, profit and cashflows. In the future, XCE can also expand market share through strategic acquisitions, at very little cash cost, using performance-based equity incentives to provide immediate and ongoing shareholder value. XCE is also building a dedicated Bitcoin executive recruitment division, enabling executives to find their role within either Bitcoin businesses or traditional businesses looking for Bitcoin talent worldwide and accelerating corporate education, integration and adoption of Bitcoin.
Website: xce.io
Follow on X: XCE - Connecting Excellence Group
Follow on LinkedIn: XCE - Connecting Excellence Group
Connecting Excellence Group ("XCE") | contact@xce.io |
AlbR Capital Limited (Aquis Corporate Adviser and Joint Broker) | Tel: +44(0) 20 7469 0930 |
Allenby Capital (Joint Broker) | Tel: +44(0) 20 3328 5656 |
Yellow Jersey PR (Financial PR) | xce@yellowjerseypr.com |
The Board's policy is to retain Bitcoin received from recruitment services as a long-term treasury asset. However, where Bitcoin received in any period represents a significant proportion of the Group's operating revenue, the Board retains discretion to convert a portion to fiat currency to meet operating requirements, in line with prudent financial management. The Board will provide appropriate disclosure in such circumstances.
The Directors of the Company accept responsibility for the contents of this announcement.
*BTC Yield is a key performance indicator (KPI) that reflects the percentage change in the ratio of Total Bitcoin Holdings to Shares in Issue (Fully Diluted) over a given period. The Company uses BTC Yield to assess the performance of its Bitcoin acquisition strategy, which is intended to be accretive to shareholders.
Important Notice:
Connecting Excellence Group PLC holds treasury reserves and surplus cash in Bitcoin. Bitcoin is a type of digital asset. Whilst the Board of Directors of the Company considers holding Bitcoin to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the Financial Conduct Authority or FCA) considers investment in Bitcoin to be high risk.
At the outset, it is important to note that an investment in the Company is not an investment in Bitcoin, either directly or by proxy. However, the Board of Directors of the Company consider Bitcoin to be an appropriate store of value and growth for the Company's reserves and, accordingly, the Company is materially exposed to Bitcoin. Such an approach is innovative, and the Board of Directors of the Company wish to be clear and transparent with prospective and actual investors in the Company on the Company's position in this regard.
The Company is neither authorised nor regulated by the FCA. And Bitcoin is unregulated in the UK. As with most other investments, the value of Bitcoin can go down as well as up, and therefore the value of the Company's Bitcoin holdings can fluctuate. The Company may not be able to realise its Bitcoin exposure for the same value as it paid in the first place or even for the value the Company ascribes to its Bitcoin positions due to these market movements. And because Bitcoin is unregulated, the Company is not protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.
However, Bitcoin is formally recognised as personal property in the UK under the new Property (Digital Assets etc) Act 2025, which received Royal Assent on December 2, 2025. This legislation has removed previous legal uncertainty by establishing a new, third category of personal property to accommodate digital assets that do not fit traditional definitions.
The Board of Directors of the Company with a history of a Bitcoin treasury prior to becoming a public company, has taken the decision to invest in Bitcoin, and in doing so is mindful of the special risks Bitcoin presents to the Company's financial position. These risks include (but are not limited to): (i) the value of Bitcoin can be highly volatile, with value dropping as quickly as it can rise; (ii) the Bitcoin market is largely unregulated - there is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell its Bitcoin at will - the ability to sell Bitcoin depends on various factors, including the supply and demand in the market at the relevant time, with operational failings such as technology outages, cyber-attacks and comingling of funds potentially causing unwanted delay. The Board of Directors of the Company does not subscribe to such a negative view, and therefore ascribes to the 'Bitcoin, not crypto' mantra and has a 'Bitcoin only ethos'. However, prospective investors in the Company are encouraged to do their own research and verify before investing.
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SOURCE: Connecting Excellence Group PLC
View the original press release on ACCESS Newswire
COMTEX_477208637/2457/2026-04-14T02:15:58
