Kasei Digital Assets Board Recommends Winding Up Company Due to Public Status Costs

The Board of Kasei Digital Assets PLC today announced the completion of its strategic review and has concluded that the costs associated with the company's status as a public quoted entity represent a significant burden for shareholders.

Following consideration of the review, the Board determined that the expenses involved in being a publicly quoted company are substantial. These costs were noted to include maintaining the Company's presence on the Aquis Stock Exchange, associated fees for advisers and auditors, and the AIFMD regulatory costs involved in managing funds on behalf of investors, which require either engaging external third parties or investing significant resources internally.

Given the size of the Company, these combined costs were found to represent a substantial proportion of the returns that the Directors have generated from the Company's investment activities. As a result, the Board has decided that the interests of shareholders would be best served if the Company ceases to be a publicly quoted entity.

The Board has therefore resolved to seek to wind the Company up through a members' voluntary liquidation process. The stated goal is to return the net assets of the Company to its shareholders in the form of cash.

The Company has stated that it is solvent and possesses positive net assets. Furthermore, given that the majority of the Company's assets consist of readily realisable crypto currencies or cash, the Board anticipates that the process of distributing the Company's assets to shareholders will be straightforward, contingent upon the approval of shareholders.

Shareholders are advised that they do not need to take any action at this point and that nothing will change in the short term. The Company will maintain its quotation on the Aquis Stock Exchange until the point at which the Company's assets are distributed to shareholders in cash.

The Board plans to commence an orderly process of winding down the Company's portfolio of crypto-assets over the next few months. In parallel, the Board will initiate the legal process for winding the Company up, with the aim of completing the entire process by no later than September 30, 2025. The winding up of the Company will require the approval of shareholders via a special resolution, which is planned to be proposed at a general meeting to be convened in due course.