Business
Proposed Re-domiciliation
Phoenix Digital Assets PLC, trading as PNIX on the Aquis Stock Exchange, intends to re-domicile from the United Kingdom to Gibraltar through a scheme of arrangement, with the new Gibraltar holding company to be admitted to the Aquis Stock Exchange upon completion in early 2026. This move is driven by the UK's uncertain regulatory environment for digital assets, including challenges with banking, auditing expertise, and general oversight, whereas Gibraltar offers a supportive regulatory framework for distributed ledger technologies and experienced professional advisers. The company anticipates no material changes to its strategy, including its focus on managing a crypto token portfolio and its authority to purchase its own shares. Disclaimer*
About this update from Phoenix Digital Assets (gibraltar) Plc
[{"type":"text","content":"\n\nThis announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n04 December 2025\n \nPhoenix Digital Assets PLC\n(\"Phoenix\" or \"the Company\")\nProposed Re-domiciliation\nPhoenix Digital Assets PLC (AQSE: PNIX) is pleased to announce its intention to re-domicile the Company from the United Kingdom to Gibraltar (\"Proposed Re-domiciliation\").\nAs the United Kingdom does not have a process for re-domiciling a Company, a new, Gibraltar registered public limited company will be inserted as a new holding company of the Company by way of a scheme of arrangement (\"Scheme\"), such that the Company becomes a wholly owned subsidiary of the new Gibraltar registered company.\nThe Company intends to mirror, as far as possible, the existing structure of the Company in Gibraltar and anticipates no material changes to its strategy as a result of the Proposed Re-domiciliation. This includes renewing the Company's authority to purchase its own shares on-market in the future. Upon completion of the Proposed Re-domiciliation the new Gibraltar holding company will be admitted to the Aquis Stock Exchange.\nThe Proposed Re-domiciliation requires the Scheme to be approved by the Company's shareholders and the sanction of the Court to become effective. If approved, it is anticipated that the Scheme and therefore the Proposed Re-domiciliation will become effective in early 2026.\nThe Company will make further announcements in due course.\nRationale for the Proposed Re-domiciliation\nThe Company is primarily focused on the management of a crypto token portfolio. Since incorporation, the Company has faced an uncertain regulatory environment in the United Kingdom and has faced significant operational challenges, including but not limited to access to banking facilities, the experience and expertise of auditors in the digital asset sector and general regulatory oversight.\nIn the opinion of the Directors the key reasons for redomiciling to Gibraltar are as follows:\n\nRegulatory Environment: Gibraltar has adopted bespoke regulations governing distribut...