CoinShares International Limited said the Royal Court of Jersey scheduled a directions hearing for February 17, 2026, in connection with its proposed business combination with Vine Hill Capital Investment Corp.

CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), with an announced merger with Vine Hill Capital Investment Corp (Nasdaq: VCIC), a leading global asset manager specialising in digital assets, today announces that the Royal Court of Jersey has scheduled a directions hearing for 17 February 2026 in connection with its proposed business combination (the “Transaction”) with Vine Hill Capital Investment Corp. ("Vine Hill").

Transaction Progress

The directions hearing represents a key procedural milestone in the Company's proposed Scheme of Arrangement. At this hearing, the Court will be asked to approve the form of shareholder documentation and provide directions for convening the requisite shareholder meetings of the Company.

Subject to Court approval, the Company expects to publish the Scheme Circular and related documentation on 18 February 2026.

Path to U.S. Listing

CoinShares and Odysseus Holdings Limited confidentially submitted a draft registration statement on Form F-4 (the “F-4”) to the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2025. The Company will provide further updates on the anticipated timeline following continued engagement with the SEC.

The boards of CoinShares and Vine Hill, together with CoinShares major shareholders, remain fully committed to completing this Transaction.

As previously announced, the transaction values CoinShares at USD 1.2 billion, based on the Company's 2024 full-year adjusted EBITDA. Notably, this EBITDA was generated during a period when bitcoin averaged $65,964, compared to current prices of approximately $90,000.

Completion of the Transaction also remains subject to customary closing conditions, including the approval of CoinShares’ and Vine Hill’s respective shareholders, obtaining the requisite Acts of the Royal Court of Jersey, the effectiveness of the F-4, and receipt of certain local regulatory approvals.

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COMTEX_472256183/2227/2026-01-23T02:44:24