In the upcoming extraordinary general meeting, the company's stock is fluctuating.
News Summary:
* Metaplanet invites shareholders to exercise their voting rights regarding the upcoming extraordinary general meeting (EGM).
* The company's CEO, Simon Gerovich, highlights key proposals that will define the Bitcoin purchase strategy for the upcoming year.
* Shares of "Meta Planet" (listed in Japan) and MTPLF (listed in the United States) are fluctuating amidst uncertainty surrounding Bitcoin's price.
Details of the extraordinary general meeting and the critical decision:
The share prices of "Meta Planet" fluctuate near 440 Japanese yen (JPY) ahead of its crucial extraordinary general meeting (EGM), scheduled to determine its Bitcoin strategy for the coming year. The company’s CEO, Simon Gerovich, urges shareholders to exercise their voting rights on key proposals that could shape the future of the company.
Shareholder notice:
"Meta Planet" announced via platform X (formerly Twitter) on December 15, the sending of a notice regarding an extraordinary general meeting online, scheduled for December 22. The meeting will bring together shareholders to discuss and vote on key agenda items related to the company’s strategic and governance issues, including the Bitcoin accumulation strategy for the coming year.
The company, which relies on Bitcoin as a reserve asset, described the meeting as "crucial" for its future. It asked shareholders to exercise their voting rights in advance by next Friday, adding: "If you have not yet exercised your voting rights, please do so immediately in advance using the QR code."
CEO's call and key proposals:
CEO Simon Gerovich urged all shareholders to effectively exercise their voting rights, as the meeting includes important proposals. Gerovich revealed that the main proposals include issuing preferred shares in the future. This is critical to the company’s medium and long-term strategy. "Meta Planet" has announced Class "A" (MARS) and Class "B" (MERCURY) preferred shares.
The company also plans to propose a reduction in reserve capital and share capital. Notably, the company aims to expand its total Bitcoin holdings to 100,000 Bitcoins by the end of 2026, according to its Bitcoin accumulation strategy.
Company stock performance and Bitcoin price:
"Meta Planet" shares listed in Japan and MTPLF shares listed in the United States have seen a recovery of nearly 15% in recent sessions after the adjusted net asset value (mNAV) bounced above 1. However, the stock is currently fluctuating amidst market uncertainty regarding the extraordinary general meeting and Bitcoin price volatility.
* "Meta Planet" share (JPY): The stock price closed down 1.36% at 436 Japanese yen at the time of publishing the news.
* MTPLF (USD) share: The stock closed down 2.8% at $2.71 on Friday, wiping out most of its gains due to potential uncertainty ahead of the meeting.
* Bitcoin price: The price of Bitcoin remains volatile and is trading near $89,000.
