PETALING JAYA: Country Heights Holdings Bhd (CHHB) will be convening an EGM on Nov 8 to give shareholders an avenue to discuss its proposal to issue its own asset-backed cryptocurrency via a proposed initial coin offering (ICO).
In a Bursa Malaysia filing, CHHB acknowledged that being the first public-listed company to head towards this new field, an EGM would help to clear the confusion among many who may not comprehend blockchain technology and the many cryptocurrencies in the world today.
CHHB would like “to seek shareholders’ support and endorsement to proceed with the appointments of reputable and the best technology partner/s and other external consultants to give back-end support to this exercise, especially in its implementation”, the filing said.
These consultants will prepare all the necessary documentation for submission and engagement with the relevant authorities for approval, if any. As there is no regulations specifically regulating this, the company would like the relevant authorities to be kept well-informed of CHHB’s initiative.
The filing said once the board has decided to proceed with the ICO, CHHB would seek shareholders’ approval and convene another general meeting for the final endorsement for the launching of the ICO, its structure, mechanism and the exchange centre which will be used.