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Windsor Mills, MD, April 22, 2024 (GLOBE NEWSWIRE) -- Connexa Sports Technologies Inc. (NASDAQ:YYAI) the owner of Slinger Bag, Gameface AI and, subject to approval by its shareholders, Yuanyu Enterprise Management (YYEM), announced that its board of directors has approved the change of its ticker symbol to YYAI, effective immediately, from the market opening today.
"Following our recent announcement to acquire 70% of YYEM, as a pathway to deliver enhanced value to all of our shareholders, the board of directors concluded that this change in our Nasdaq ticker symbol to YYAI was in line with this plan and represented a more appropriate reflection of the future business operation", commented Mike Ballardie, CEO Connexa Sports Technologies.
"Over the past year, the Connexa board and management have reviewed the company's potential to directly deliver meaningful enhancements in shareholder value, and concluded that the optimum short-term opportunity to deliver such value for all shareholders was to conclude this acquisition, accept a change-in-control of Connexa, and divest the Slinger Bag business to a newly established entity," concluded Ballardie.
