The resolution authorizes a substantial increase in the company's share capital, expanding the pool of Class A Ordinary Shares to 70 trillion before the subsequent consolidation. Following this, the company will implement a 700-to-1 reverse split, adjusting the nominal value of shares from US$0.00005 to US$0.035.
In section Releases
SOLAI Limited Approves Massive Share Capital Increase and Consolidation
Shareholders of SOLAI Limited, formerly known as BIT Mining, voted to significantly restructure the company’s capital during an extraordinary general meeting held August 14. The move involves a major expansion of authorized shares followed by a consolidation ratio of 700-to-1 to reshape the firm's equity foundation.
Under the new structure, fractional shares resulting from the consolidation will be handled through a rounding mechanism: Class A and Preference shares will be rounded up to the nearest whole number, while Class B Ordinary Shares will be rounded down. This process effectively results in the cancellation of all issued Class B Ordinary Shares currently held by investors. The company, which recently pivoted from digital asset mining to focus on personal AI infrastructure, continues to trade on the Pink Limited Market under the ticker symbol SLAIY.
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