The Board of Kasei Digital Assets PLC today announced that it has completed its strategic review and has considered in particular the cost burden that shareholders bear as a result of the company’s status as a public quoted company.

After much consideration, the Board has concluded that the costs involved with being a publicly quoted Company are a significant burden. These costs include maintaining the Company’s presence on the Aquis Stock Exchange, the associated costs of advisers and auditors and the AIFMD regulatory costs involved with managing funds on behalf of investors, which involve either an external third party or investment in significant resources to bring in-house.

Given the size of the Company, these combined costs have represented a substantial proportion of the returns that the Directors have generated from the Company’s investment activities and, as a result, they have decided that the interests of shareholders will be best served if the Company ceases to be a publicly quoted company.

The Board has therefore resolved to seek to wind the Company up by means of a members’ voluntary liquidation process and to return the net assets of the Company to shareholders in the form of cash.

The Company says it is solvent, has positive net assets and given that the bulk of the Company’s assets are in the form of readily realisable crypto currencies or cash, the Board expects the process of distributing the Company’s assets to shareholders to be a straightforward process, subject to the approval of shareholders.

Shareholders need take no action at this point and nothing will change in the short term. The Company will maintain its quotation on the Aquis Stock Exchange until the time that the Company’s assets are distributed to shareholders in cash.

The Board plans to start a process of winding down the Company’s portfolio of crypto-assets in an orderly fashion over the next few months. The Board will, in parallel, commence the legal process of winding the Company up with a view to having completed the process by no later than 30 September 2025.

The winding up of the Company will require shareholders’ approval by means of a special resolution which will be proposed at a general meeting to be convened in due course.