Overview
- Norway’s Norges Bank Investment Management, which holds about 0.3% of Metaplanet, published votes in favor of all five management proposals ahead of the Extraordinary General Meeting on December 22.
- One measure would reduce capital stock and reserves to move funds into surplus that can be used for dividends, share buybacks or additional bitcoin acquisitions without increasing common shares outstanding.
- Metaplanet seeks to introduce perpetual Class A preferred shares, branded MARS, with variable monthly dividends that rank senior in the capital structure.
- The plan also creates perpetual Class B preferred shares, called MERCURY, with fixed quarterly dividends plus conversion and cash redemption features, and authorizes their issuance to institutional investors.
- The company targets roughly $150 million through a third‑party MERCURY allotment to fund bitcoin purchases, and it was recently reported to hold about 30,823 BTC with acquisitions paused since September 29.