Business
Result of GM
Kasei Digital Assets Plc, soon to be renamed Stackbitcointreasury plc, announced that all resolutions were passed at its General Meeting, including a Rule 9 Waiver. Key approvals include a return of capital involving the redesignation of existing ordinary shares into B shares and a capitalisation of up to £3,042,917.40 from the share premium account. The company also approved the cancellation of 2,799,177 surrendered shares and associated warrants. Directors are now authorised to allot shares up to a nominal amount of £5 million, with pre-emption rights disapplied until December 9, 2026. The company's investing policy has been modified to focus on direct Bitcoin investment and treasury management. The name change to Stackbitcointreasury plc and ticker change to STAK will be effective on December 10, 2025. Disclaimer*
About this update from Stack Btc Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n Kasei Digital Assets Plc(to be renamed Stackbitcointreasury plc)(\"the Company\") Result of GM The Company is pleased to announce that at its General Meeting held on 9 December 2025, all resolutions were duly passed including shareholder approval of the Rule 9 Waiver Resolution. As a consequence, the following matters were approved. Return of Capital Resolution 1 authorises the Directors to implement the Return of Capital. Under the Return of Capital, the 30,429,174 Existing Ordinary Shares will be redesignated as B Shares. Up to £3,042,917.40 standing to the credit of the Company's share premium account will be capitalised to allot and issue 304,291,740 B Shares to existing shareholders. Following this, the B Shares and a portion of the share premium account will be cancelled to enable the return of capital to shareholders. The Company's articles of association will also be amended to allow for the issue of B Shares. The B Shares are non-transferable and will not be listed on AQSE or any other exchange. Cancellation of the Surrendered Shares Resolution 2 permits the cancellation of the 2,799,177 Surrendered Shares, being unpaid Ordinary Shares registered in the name of the Company. Following this cancellation, the outstanding warrants giving rights to subscribe for 333,117 Ordinary Shares will also be cancelled. Share Allotment Authorities Resolutions 3 and 4 have authorised the Directors to allot shares and/or grant rights to subscribe for new Ordinary Shares up to an aggregate nominal amount of £5 million, equivalent to 500 million new Ordinary Shares and to disapply pre-emption rights in respect of such shares. These authorities will expire on 9 December 2026. Waiver of Rule 9 Resolution 5, the Rule 9 Waiver granted by the Panel on Takeovers and Mergers, was approved by the Company's Independent Shareholders. The waiver permits the Concert Party to subscribe for new Ordinary Shares pursuant to the Investment without triggering a general offer obligation. Modification of Investing Policy Resolution 6, an ordinary resolution to modify the Company's Investing Policy, was approved. The revised strategy repositions the Company as a dedicated, listed Bitcoin investment vehicle, focusing on direct investment in Bitcoin and treasury management...