Business Context and Reporting Period
This Form 6-K is filed by Dragon Victory International Limited (the "Company"), a Cayman Islands exempted company, for the month of June 2022. The filing date is June 29, 2022. The document serves as an explanatory note to clarify home country rule exemptions regarding Nasdaq Capital Market Listing Rule 5635 for the Company's upcoming Form 20-F for the fiscal year ended March 31, 2022. Note: The input metadata references "Metalpha Technology Holding Ltd," but the filing text explicitly identifies the registrant as Dragon Victory International Limited.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance disclosure and does not contain financial statements or performance metrics.
Material Changes
No material financial changes versus a prior comparable period are reported in this filing. The document focuses solely on the election to follow home country rules for specific corporate governance matters under Nasdaq Listing Rule 5615.
Guidance, Outlook, and Risks
Corporate Governance Exemptions: The Board of Directors has elected to be exempt from obtaining shareholder approval for the following under Nasdaq Listing Rule 5635:
- Issuance of securities resulting in a change of control (Rule 5635(b)).
- Establishment or material amendment of stock option/purchase plans or equity compensation arrangements (Rule 5635(c)).
- Issuance of 20% or more of outstanding ordinary shares (Rule 5635(d)).
Other Governance: The Company states there are no significant differences between its corporate governance practices and those of U.S. domestic companies under Nasdaq Capital Market standards, other than the exemptions listed above.
Risks and Contingencies: The filing text does not provide a clear value for specific risks, contingencies, or unusual items beyond the standard disclosure of governance exemptions.
Investor Verification Checklist
- Verify the correct registrant name: The filing is for Dragon Victory International Limited, not Metalpha Technology Holding Ltd.
- Confirm the specific Nasdaq rules (5635(b), 5635(c), 5635(d)) under which shareholder approval is waived.
- Review the upcoming Form 20-F for the fiscal year ended March 31, 2022, to see how these exemptions are integrated into the full disclosure.
- Check for any subsequent filings regarding actual issuances of securities that may have utilized these exemptions.