Tokenholder Scheme 1: Future Buyback Programme
Scheme 1 involves XOV re-purchasing the XOV.ETH token from token holders. The XOV.ETH token can only be re-purchased when there are sufficient profits to do so, but the team have undertaken to make this a reality. The profits will be derived from the operating company (net profits after operating costs).
The Future Buyback Scheme will operate in perpetuity whilst the XOV.ETH token is trading. There are no plans to de-list the XOV.ETH token and it may be added to new exchanges in the future.
Waiting lists will be published by wallet address.
There are no limitations on the buyback, so register today.
The Scheme will operate according to the following criteria:-
(1) Registrations for the Buyback Scheme will be accepted in order of date and time received on our server (GMT) and a waiting list will be established.
(2) Every financial quarter commencing one quarter from 22 May 2019 and continuing thereafter, a meeting will be held to determine if there is a profit allocation that can be used to fund the Buyback Scheme.
(3) If a profit is declared for the Buyback Scheme, the Board will determine the percentage of profits that can be used for the Buyback Scheme, and the individuals listed in the waiting list (by order received) will be shortlisted for a re-purchase of their tokens.
(4) The number of tokens re-purchased is determined by the total net profit after operating costs allocated by the Board divided by market price of the XOV.ETH token as shown by Coinmarketcap on the declaration date, against the waiting list.
(5) The stated wallet address of shortlisted token holders as declared in their original registration submission will be verified and the amount held in that wallet will be used as the amount to be repurchased. If no tokens are held in the declared wallet, the registrant will be removed from the waiting list. Additionally, the shortlisted token holder has 3 days from the date XOV contacts them using their registered email address to respond to a re-purchase offer. If no reply is received within 3 days, the token holder will no longer be eligible for the re-purchase of tokens and will be removed from the waiting list, but is able to re-register.
(6) XOV will re-purchase tokens at one cent above the market price on the declaration date.
(7) There are no guarantees that a re-purchase will take place in any financial quarter, but an undertaking that if net profits after operating costs are achieved, that a profit allocation will be declared.
(8) Any tokens re-purchased will be re-issued by XOV at a future date.
(9) Token holders are liable for their own taxation affairs on re-purchase and XOV accept no liability in respect of this. Token holders also declare that they are legally permitted to participate in this scheme.
(10) During registration, no exchange wallets are permitted for re-purchase. The wallet address registered must be independently owned by the registrant and not be linked to a cryptocurrency exchange.
Tokens are re-purchased at 1 cent above the market price.