#Cryptocurrency #United States #Akron #SOLAI Limited #Man San Vincent Law

SOLAI Limited's Upcoming Extraordinary General Meeting

SOLAI Limited, formerly known as BIT Mining Limited, is set to hold an extraordinary general meeting (EGM) on December 29, 2025. This crucial meeting will take place at the company's office located at 428 South Seiberling Street, Akron, Ohio, and will commence at 10:00 a.m. New York time. This announcement marks a significant step for the company, which is strategically transitioning from a focus on cryptocurrency mining to a broader role in cryptocurrency infrastructure within the Solana ecosystem.

Shareholders who are on record as of November 24, 2025, at the close of business will be eligible to attend this meeting and vote. This includes holders of ordinary shares and preference shares, as well as those holding American Depositary Shares (ADSs). It is important to note that ADS holders will need to work through Deutsche Bank Trust Company Americas, the depositary for the company's ADS program, to exercise their voting rights.

Key Agenda for the Meeting

One of the main items on the agenda is the approval of the issuance of new Class A II preference shares. The company plans to issue a total of 65,000 preference shares at a subscription price of $1.00 each, amounting to a total cash consideration of $65,000. This issuance will be directed to Good Luck Capital Limited, a company incorporated in the British Virgin Islands and controlled by Mr. Man San Vincent Law, an executive director of SOLAI. This decision underscores Mr. Law's pivotal role in guiding SOLAI's evolution and aligning his interests with the company's long-term goals.

Details on Preference Shares

The key characteristics of the newly proposed preference shares are as follows:

• - Voting Power: Each preference share will carry a voting power equivalent to 400,000 Class A ordinary shares.
• - Conversion Limitations: These shares will not be convertible into Class A ordinary shares, Class B ordinary shares, or ADSs representing Class A ordinary shares.
• - Dividend Exclusion: Holders of these preference shares will not be entitled to receive dividends.
• - Transferability: With prior written consent from the Board, Good Luck is permitted to transfer these preference shares to third parties not affiliated with itself.

Following this issuance, Mr. Law's voting power is expected to rise dramatically from approximately 31.8% to around 94%, a change that reflects his substantial stakes in the company's governance moving forward.

Company Background

SOLAI Limited is evolving beyond its origins in cryptocurrency mining and is now focused on establishing a comprehensive blockchain ecosystem that extends into areas such as artificial intelligence (AI), stablecoins, payment infrastructures, and staking operations. Their commitment to enhancing blockchain functionality is apparent as they seek to improve operational efficiency across Solana and various other blockchain realms.

As the cryptocurrency landscape continues to grow, SOLAI is positioning itself not just as a mining company but as a critical player in the broader crypto infrastructure space. This meeting will touch upon critical decisions that will shape the future of the organization.

For further information about SOLAI Limited and the upcoming meeting, shareholders can visit the Investor Relations section of the company's website at SOLAI Investor Relations. Additionally, SOLAI's annual report is accessible at the same site, offering insights into the company's financial performance through the last fiscal year, which concluded on December 31, 2024.

Conclusion

With the extraordinary general meeting on the horizon, SOLAI Limited is taking proactive steps to ensure its stakeholders are informed and involved in the pivotal changes ahead. The strategic issuance of these preference shares signals a deeper strategic alignment and long-term vision for the company in the ever-evolving cryptocurrency sphere.