NAGA GROUP AG announced that the merger with CAPEX.com was approved at the Extraordinary General Meeting held on April 12.
The merger proposal was supported by 99.81% of NAGA shareholders.
Octavian Patrascu, CEO of NAGA AG, presented during the meeting the "New NAGA" strategy, which aims to increase the Group's global reach and ability to provide services in more than 100 countries. This initiative will be possible thanks to a new regulatory framework consisting of 9 licenses and 12 offices worldwide.
In addition, according to EQS News, Patrascu presented the company's product roadmap and the expected smooth integration of all 4 financial verticals into a single ecosystem for the user, NAGA SuperApp.
Strategy highlights:
- Market expansion: The company's expansion and consolidation plans are expected to significantly increase its market share.
- Product and app enhancements: The company unveiled major updates to the NAGA application, focusing on improving the user experience through the introduction of artificial intelligence and exclusive features.
- NAGA SuperApp: The company plans to consolidate all existing NAGA services into a single integrated platform, NAGA SuperApp, providing users with a full range of services.
- Merger with CAPEX.com: The strategic merger is designed to improve NAGA's financial performance by leveraging synergies between the two companies.
"This Extraordinary General Meeting was my first as CEO of NAGA Group, and I am very pleased that it concluded with the approval of the merger and the new composition of the Supervisory Board by such a large majority. This vote will allow us to move forward with our new business plan once we receive regulatory approval for the merger. We will expand NAGA's global reach and upgrade the SuperApp app to provide a truly universal user experience that is unique in the fintech world," said Octavian Patrascu.
Upon approval of the merger, Patrascu may become the majority shareholder of NAGA and invest personal financial resources in the new company.
The new NAGA is expected to have a user base of more than 1.6 million registered users.
Read also: CFI integrates options trading into Multi-Asset platform
