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Metalpha Technology Holding Limited (NASDAQ:MATH), a $65.5 million market cap investment company formerly known as Dragon Victory International Ltd, announced today the unanimous re-election of its board directors and the adoption of amended company statutes at its Annual General Meeting (AGM) held on Monday in Hong Kong. According to InvestingPro analysis, the company appears undervalued at its current trading price of $1.79.
The shareholders voted in favor of re-electing Bingzhong Wang, Ming Ni, Limin Liu, Jingxin Tian, Kim Fung Lai, Sen Lin, and Kiyohiro Kawayanagi to continue serving as directors of the company. Each director was re-elected with 100% of the votes cast in favor, reflecting full shareholder support for the existing board that has overseen impressive YTD returns of 50.13%.
In addition to the director re-elections, a special resolution was passed to amend and restate the company’s Memorandum and Articles of Association (M&A). The updated M&A, referred to as the Amended M&A, will take effect immediately following the resolutions.
The AGM saw participation from shareholders representing 61.3% of all ordinary shares issued and outstanding as of the record date, March 7, 2025. The company’s adherence to corporate governance best practices was evident in the smooth execution of the AGM and the transparency of the voting process. InvestingPro data shows the company maintains a GOOD financial health score, with particularly strong growth metrics and a remarkable 203.52% revenue growth in the last twelve months.
The outcomes of the AGM are critical for the continuity of Metalpha’s strategic direction and governance structure. The board’s unanimous re-election signals shareholder confidence in the leadership’s ability to steer the company in the evolving investment landscape.
Metalpha, listed on the Nasdaq, operates within the broad sector of investors and is headquartered in Wan Chai, Hong Kong. The company trades at an attractive P/E ratio of 10.2, suggesting potential value for investors. The information reported is based on the company’s recent SEC filing.
In other recent news, Metalpha Technology Holding Limited reported a remarkable 388% increase in revenue for the six months ending September 30, 2024, reaching $19.72 million. This significant growth led to a turnaround from a net loss of $3.86 million to a net profit of $6.04 million. In response to these strong financial results, Metalpha’s Board of Directors has authorized a share repurchase program of up to $5 million over the next 36 months. This decision reflects the company’s confidence in its strategic direction and commitment to shareholder value. The revenue surge is attributed to Metalpha’s focus on high-quality products and services, supported by investments in talent and technology infrastructure. Adrian Wang, the chairman and CEO, emphasized these investments as crucial for the company’s long-term scalability. These developments are part of Metalpha’s broader strategy to expand its financial offerings and partnerships. Investors should be aware that the information is based on a press release, which includes forward-looking statements subject to risks and uncertainties.
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