SplitJul 28, 2026, 09:18 AM
Fast Track Group Proposes 1:20 Reverse Share Split
AI Summary
Fast Track Group has called an Extraordinary General Meeting for August 17, 2026, for shareholders to vote on several key corporate actions. The primary proposal is a 1:20 reverse share split, which would consolidate every twenty existing Ordinary Shares into one new Ordinary Share. Following the split, the company also proposes to redesignate the Ordinary Shares into Class A and Class B Ordinary Shares and adopt an amended memorandum and articles of association.
Key Highlights
- Shareholders to vote on a 1:20 reverse share split of Ordinary Shares.
- The reverse split will consolidate 20 shares of US$0.001 par value into one share of US$0.02 par value.
- Authorized share capital will change from 50,000,000 Ordinary Shares to 2,500,000 Ordinary Shares.
- Directors to be authorized to handle fractional entitlements resulting from the reverse split.
- Proposal to redesignate Ordinary Shares into Class A and Class B Ordinary Shares after the split.
- Adoption of a second amended and restated memorandum and articles of association (Amended MAA) is also proposed.
- Board of directors to be authorized to take all necessary actions for these corporate changes.
Price Impact
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