Metaplanet CEO reviews governance following shareholder dilution concerns

Metaplanet CEO Simon Gerovich has announced a review of the company’s compensation and governance policies following criticism from shareholders regarding stock dilution. Gerovich acknowledged that the company had not sufficiently explained how its decision-making processes and corporate structure contribute to long-term shareholder value.

To address concerns over the dilution of existing shares, Metaplanet has modified its 10th series stock acquisition rights. The company removed an adjustment clause that previously allowed the number of exercisable shares to increase in proportion to new share issuances. Instead, the number of potential shares under this series has been fixed at 319,464,000. Additionally, a five-year lock-up period has been implemented, prohibiting the sale or transfer of shares acquired through these rights until August 17, 2031.

Gerovich also addressed the company’s relationship with shareholder MMXX Ventures, stating that while he holds a significant stake in its parent company, he does not hold a majority and has no role in MMXX’s investment decisions or board of directors. The company continues to implement its Bitcoin treasury strategy, which has seen its total outstanding shares grow significantly since the strategy's inception.