Corporate ActionMay 15, 2026, 06:21 AM
Digital Currency X Shareholders Approve Capital Restructuring
AI Summary
Digital Currency X Technology Inc. shareholders approved several proposals at an Extraordinary General Meeting on May 13, 2026. These approvals include a significant share capital reduction, a subsequent share sub-division, and an increase in authorized share capital. Additionally, shareholders approved the adoption of the Fifth Amended and Restated Memorandum and Articles of Association and expanded the Board's authorization for future share consolidations up to a 4000:1 ratio over three years.
Key Highlights
- Shareholders approved reducing par value of issued Class A and B ordinary shares from US$3.6 to US$0.0001.
- Credit from share capital reduction to be transferred to a distributable reserve account.
- Authorized but unissued shares to be subdivided: each US$3.6 share into 36,000 shares of US$0.0001.
- Authorized share capital changed from US$3,000,000,000 to US$83,333.33.
- Authorized share capital increased from US$83,333.33 to US$300,000.
- Approved the Fifth Amended and Restated Memorandum and Articles of Association.
- Expanded Board's authorization for share consolidations up to 4000:1 ratio over three years.
Price Impact
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