Coolpad seeks shareholder approval to dispose of CLSK securities

Coolpad Group announced it is seeking shareholder approval for a mandate to dispose of its holdings in CleanSpark, Inc. As of the announcement date, Coolpad, through its subsidiary Digital Tech, held 1,625,000 CLSK shares, representing approximately 0.6% of CleanSpark's outstanding shares. The proposed mandate would allow directors to sell the shares on the open market within a 12-month period, provided the selling price is no less than US$15.93 per share. If the disposal is carried out at US$9.70 per share, Coolpad anticipates a major transaction that falls under Chapter 14 of the listing rules. The company plans to seek shareholder approval at an upcoming Extraordinary General Meeting (EGM), and expects to realize a gain of US$10,920,250 if all the shares are sold at the Minimum Selling Price. The proceeds are intended for general working capital. A circular with full details is expected to be issued to shareholders by June 20, 2025.