Corporate ActionJun 30, 2026, 06:07 AM
Fitness Champs Shareholders Approve Capital Increase, Potential Share Consolidation
AI Summary
Fitness Champs Holdings Ltd. held an Extraordinary General Meeting on June 29, 2026, where shareholders approved several key corporate actions. The company's authorized share capital will be increased from US$500,000 to US$23,000,000, primarily by increasing Class A Ordinary Shares. Additionally, shareholders granted the Board discretion to implement a share consolidation at a ratio between 2-for-1 and 500-for-1 within one year, with fractional shares to be rounded up. These resolutions also include adopting amended Memorandums and Articles of Association to reflect these changes.
Key Highlights
- Shareholders approved increasing authorized share capital from US$500,000 to US$23,000,000.
- The increase includes 10,177,777,777.78 Class A Ordinary Shares, 22,222,222.22 Class B Ordinary Shares, and 22,222,222.22 Preferred Shares.
- Shareholders approved adopting an amended M&A to reflect the share capital increase.
- Board authorized to implement share consolidation at a ratio of 2:1 to 500:1 within one year.
- Fractional shares from consolidation will be rounded up to the next whole share.
- Shareholders approved adopting a further amended M&A to reflect any share consolidation.
Price Impact
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