Liquid Meta Provides Update on Strategic Review and Calls Special Shareholder Meeting
Liquid Meta Capital Holdings Ltd. announced the conclusion of initial phases in its strategic review process. The Board of Directors determined the best path forward is to return capital to shareholders through a proposed reduction in stated capital by up to $10,767,449. A special meeting is scheduled for April 27, 2023, to discuss a dividend of $0.20 per share, funded by cash reserves totaling $24,505,884. However, both the reduction and distribution require shareholder and regulatory approvals, and no assurance of completion is guaranteed. The company is also continuing to evaluate other strategic alternatives.
- Board of Directors intends to return capital to shareholders.
- A proposed dividend of $0.20 per share, subject to approvals.
- Shareholder and regulatory approvals for capital reduction and dividend are uncertain.
- No guarantee that continued evaluation of strategic alternatives will yield beneficial results.
Following the completion of the initial phases of its strategic review process, the Board of Directors has determined it is in the best interest of the Company to return capital to its shareholders by way of a reduction in stated capital of the Company. Accordingly, the Company announced that it has called a special meeting of shareholders to be held on
The Board of Directors plans to continue its strategic review process in order to further preserve and maximize shareholder value. Other than as described in this press release, the Company has not made any decisions related to other strategic alternatives at this time and there can be no assurance that the continued evaluation of strategic alternatives will result in any strategic alternative, or any assurance as to its outcome or timing. The Company has not set a timetable for completion of the process and does not intend to disclose further developments related to the process unless and until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded it is necessary or appropriate.
About Liquid Meta
Liquid Meta is a decentralized finance infrastructure and technology company that is powering the next generation of open-access protocols and applications. Prior to its alternative strategic review process, the Company was creating the bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits anyone, anywhere.
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Cautionary Notice
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
Forward-Looking statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks and Uncertainties" in the Company's Filing Statement dated as of
Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
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