Corporate Announcement from Saga
Given the current status and instability of global markets, the Board of Directors of Saga Monetary Technologies Ltd (:Saga) has decided to allocate up to EUR 2.5M of its operational budget for the purchase of SGA tokens. The proposed purchase will diversify Saga’s exposure to the market. Having considered a number of alternatives, this decision has been made partly because SGA is backed by a reserve held in the same ratio and currencies set out by the IMF (Special Drawing Rights — SDR), a tool which has been used by central banks since 1969. This enables Saga to be exposed to a variety of markets, thus limiting single currency exposure. The purchase is expected to commence March 13, 2020, and will not impact the price of SGAs, or the ability of others to purchase SGA tokens under the same terms.