ASX Release
24 December 2019
Received ASX letter of 18 December 2019
Animoca Brands Corporation Limited (ASX: AB1, “the Company”) wishes to advise that ASX has issued to the Company a letter detailing what ASX believes to be breaches of the listing rules. The letter places a particular emphasis on elements of the Company’s business that ASX has recently indicated it does not consider to be appropriate for a listed company, in particular, “substantial involvement in cryptocurrency related activities” and “substantial use of SAFEs issued by subsidiaries”. It is a lengthy letter and there are other issues to address in addition to those aspects.
Animoca Brands has been provided the opportunity to make a good case to the contrary, otherwise, ASX proposes to remove Animoca Brands from the official list pursuant to listing rule 17.12 with effect on and from the commencement of trading on Friday, 21 February 2020.
Animoca Brands intends to address the issues raised in the ASX letter and provide a written response as soon as practicable.
There can be no assurance that the Company’s submissions to ASX will be successful in forestalling removal from the official list. However, Animoca Brands is making every effort to address ASX’s concerns and will update the market as soon as practicable.
This announcement has been authorised for release by the Board.
If you have any queries in relation to this announcement, please contact John Madden, co-company secretary, at johnm@animocabrands.com.
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About Animoca Brands
Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Formula 1®, Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.