|
Amazing AI PLC shares slumped on Tuesday as it said it will spin off 80% of its Mauritius digital asset subsidiary to existing shareholders while retaining a 19% passive stake for nil consideration. The London-based online consumer loans and AI finance related services firm said following the spin off of Amazing AI Services Ltd it will concentrate on its online consumer loans business. In response, shares in Amazing AI dived 55% to 0.35 pence on Tuesday afternoon on London’s Aquis Exchange. Amazing AI Services has a digital asset treasury that holds a small and non-material low four-figure USD exposure to bitcoin, with no other business, assets or liabilities, the firm said. Amazing AI Services plans to develop a diversified five-asset digital treasury and pursue a listing on the Mauritius Stock Exchange. ‘As global stock exchanges tighten their requirements for companies pursuing a digital asset treasury function, the board believes it is in the best interests of all AAI shareholders to spin-off the digital asset treasury function held within Amazing AI Services Ltd,’ the company said. The disposal is expected to become effective on November 28. Shareholders on the register at the close of business on November 27 will be allocated an 80% interest on a pro-rata basis according to their shareholding. ‘We are excited to be providing existing shareholders a direct pro-rata shareholding exposure to Amazing AI Services Ltd, which plans to become a leading sophisticated and diversified digital asset treasury company and list on the Mauritius Stock Exchange,’ said Amazing AI Chief Executive Officer Paul Mathieson. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
