Nakamo.to GmbH, a 100% participation of Advanced Blockchain AG, expects significant profit increases in this and following years due to successful investments in digital assets. The Supervisory Board of Advanced Blockchain AG therefore intends to propose to the ordinary general meeting on October 29, 2020 that a profit transfer agreement be concluded between Advanced Blockchain AG and nakamo.to GmbH. Based on this contract, nakamo.to GmbH endeavors to transfer its entire profit directly to Advanced Blockchain AG for a period of at least five years.
We also would like to invite our registered shareholders to our Annual General Meeting of Advanced Blockchain AG on October 29, 2020. The meeting this year will be in virtual form due to the current pandemic.
Advanced Blockchain is also pleased to announce an investment in an American blockchain company that develops financial technology solutions for established financial service providers. Unfortunately, the company cannot currently be named due to its customer structure, which includes well-known American financial companies. Advanced Blockchain AG will use its expertise to support its expansion into Europe.