Norway’s Norges Bank Investment Management (NBIM) has backed Metaplanet’s bitcoin treasury strategy ahead of the company’s Extraordinary General Meeting on Dec. 22.
NBIM, which manages about $1.7 trillion in assets, reported it held roughly a 0.3% stake in Metaplanet as of June 30.
The vote was shared via a Bloomberg screenshot posted by Dylan LeClair, Metaplanet’s director of bitcoin strategy.
Vote details
NBIM voted in favor of all five management proposals.
Metaplanet said the measures are designed to expand capital flexibility to support bitcoin accumulation.
For a snapshot of Metaplanet’s current and historical bitcoin position, see the Metaplanet bitcoin treasury tracker.
Capital changes and share authorization
One proposal would reduce capital stock and capital reserves, allowing funds to be transferred to surplus for dividends, share buybacks, or bitcoin acquisitions without changing the number of outstanding shares.
Another would increase authorized shares, including new preferred classes, enabling future capital raises to support bitcoin accumulation.
Perpetual preferred shares
Metaplanet also proposed introducing perpetual preferred Class A shares, known as MARS.
The company said MARS would offer variable monthly dividends and rank senior in the capital structure.
A separate proposal would create perpetual preferred Class B shares, called MERCURY, featuring fixed quarterly dividends, conversion options, and cash redemption features.
Market context
Metaplanet’s common shares are up about 8% year-to-date and were trading just over 400 yen (about $2.60).
