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Linekong Interactive: Intends to purchase up to 6 million US dollars worth of cryptocurrency

Linekong Interactive: Intends to purchase up to 6 million US dollars worth of cryptocurrency

2024/01/22 11:56

Linekong Interactive (08267.HK) announced that, according to the purchasing authorization, the board of directors has been authorized and empowered to purchase cryptocurrencies in the open market with a maximum amount of up to $5 million. Cryptocurrencies are typically highly volatile and subject to sudden significanT price fluctuations. Since the approval of the purchasing authorization on November 22, 2023, the value of cryptocurrencies has surged, resulting in an unforeseen lack of clarity in achieving targets and ultimately limiting potential shareholder value appreciation. In view of these circumstances, the company believes it is necessary to revise the maximum amount to $6 million for purchasing cryptocurrencies in the open market and further amend the unit price cap for Bitcoin and Ethereum not exceeding 10% above market price. The board of directors considers that revising the purchasing authorization will provide flexibility for seizing fleeting opportunities. Other terms of the purchasing authorization will remain unchanged.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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