Amazing AI Plc (AQSE:AAI) has told investors it has cancelled plans to spin off its wholly owned subsidiary, Amazing AI Services Ltd, following feedback from shareholders.
The group previously announced the proposed transaction on 11 November but has now withdrawn it.
Amazing AI said the move reflects tightening requirements on global exchanges for companies operating digital asset treasury functions. It will continue to assess how best to address regulatory considerations whilst maintaining a strategy of holding direct exposure to digital assets.
Chief executive Paul Mathieson said the company “plans to have direct exposure to digital assets in line with the Aquis Cryptocurrency Policy” through its treasury strategy.