Boyaa Interactive to Hold Special Shareholders Meeting for Crypto Purchase Approval

According to Foresight News, Boyaa Interactive International Limited, a Hong Kong-listed company, will hold a special shareholders meeting on December 20, 2023. The meeting will consider and approve a purchase authorization, allowing the board of directors to potentially buy cryptocurrency. All voting at the special shareholders meeting will be conducted by ballot. The directors, including independent non-executive directors, believe that the terms of the purchase authorization related to potential cryptocurrency purchases are fair and reasonable, in line with normal commercial terms, and in the overall interests of the company and its shareholders. The Boyaa Interactive board believes that buying and holding cryptocurrency is an important part of the group's business layout and development in the Web3 field and an essential component of the group's asset allocation strategy. After careful consideration, the board recommends seeking shareholder approval in advance for the purchase authorization, granting the board the right to make potential cryptocurrency purchases during the authorization period, which is 12 months from the date of the formal approval of the relevant authorization and potential cryptocurrency purchases by ordinary resolution at the special shareholders meeting. The total purchase amount will not exceed $100 million. Boyaa Interactive plans to mainly purchase Bitcoin (BTC) and Ethereum (ETH) according to the purchase authorization, with a proposed purchase of $45 million in BTC and $45 million in ETH. Additionally, $10 million will be allocated to Tether (USDT) and USD Coin (USDC).