The grantee Glorious Sky Group Limited, an indirect wholly-owned subsidiary of the company, entered into the agreement with the grantee on November 24th, 2021, under which the grantee was granted the right to purchase all or any part of the call option shares at the call option price. The call option is exercisable within a period of 30 years from the date of the agreement. If the call options are fully exercised, the total exercise price of the call options will be HK $65 million.
The target company, Alpha Excellent Limited, is a limited company registered in the British Virgin Islands, which is mainly engaged in the development of non-homogeneous tokens and domain names in the blockchain field, allowing end users to sell, lease or trade customized domain names built on specific blockchain. The advanced feature of blockchain domain names is that they can be linked directly to cryptocurrency wallets rather than websites. The installation of non-homogeneous token elements of related technologies also helps to achieve advanced network security during transactions. As of the date of this announcement, the target company is beneficially wholly owned by the grantor.
The company said that the group has been actively diversifying its sources of income in order to bring substantial returns to shareholders. With the rapid development of information technology, people use blockchain technology to obtain information, communicate, conduct business and receive services. The realization of meta-universe is expected to change the whole society and industry, and the economic activities of virtual reality will rely heavily on non-homogeneous tokens. Acquiring and effectively maintaining an identity in meta-universe will be the next important stage in this technological upgrade, similar to the fact that most companies set up websites on the Internet to promote their identity to the world.
The Board is of the view that the conclusion of the agreement and the right to exercise call options is a good opportunity for business and investment as the Group can participate in the relevant business and keep abreast of the evolving changes in the world. and apply the way that people expect to use meta-space for commercial, educational and retail applications to the group business. This will expand the group's revenue sources and maximize returns to shareholders.
In addition, the Board proposes to change the English name of the company from RomaGroupLimited to Roma (meta) GroupLimited and to adopt the Chinese name "Rome (Yuan Universe) Group Limited" to replace its existing Chinese name Rome Group Limited for identification purposes.