On 17 Aug 2020, the Board of JPB Liberty Pty Ltd resolved as follows:
IT WAS RESOLVED to issue 2 million SUFB tokens to the @jpbliberty1 Hive account, to be used to sell to persons wishing to purchase SUFB tokens from the company.
IT WAS RESOLVED that any SUFB tokens remaining in the @jpbliberty1 Hive account prior to any Resolution shall be burnt by sending to @null.
The purpose of the above is to provide JPB Liberty Pty Ltd, and persons wishing to obtain SUFB Tokens from JPB Liberty Pty Ltd, two options:
a) purchasing SUFB Tokens that already exist (pre-existing entitlements created 17 Aug 2020) from @jpbliberty1; or
b) being issued new SUFB tokens by @jpbliberty.
These two options may have different legal and taxation impacts, depending on the circumstances.
Thus it is appropriate for JPB Liberty Pty Ltd to create this flexibility.
JPB Liberty Pty Ltd undertakes that SUFB Tokens held in the @jpbliberty1 account will be burnt (sent to @null) before the pro-rata calculations of SUFB Token holders to class action damages/settlement amounts are calculated.
JPB Liberty (@jpbliberty) confirms the above and that the @jpbliberty1 account is owned by JPB Liberty Pty Ltd
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