Dec. 22 at 5:58 AM
$MTPLF 🇯🇵 5/5 Proposals Approved at the Metaplanet Extraordinary Shareholder Meeting
1) Approve shift of capital stock and capital reserve to capital surplus to increase capacity for preferred share dividends & potential share buybacks. ✅
2) Increase the total number of authorized preferred shares from 277.5m shares each for Class A & Class B preferreds to 555m shares for each class. ✅
3) Amend Class A preferred share to a monthly, floating-rate dividends structure designed to deliver price stability. (MARS - Metaplanet Adjustable Rate Security) ✅
4) Amend Class B preferred shares, to quarterly dividend structure, add 10-year 130% issuer call, include investor put right unless IPO in 1-year. ✅
5) Approve the issuance of Class B preferred shares to overseas institutional investors. ✅