AGM/EGMJun 11, 2026, 06:07 AM
Fitness Champs to Hold EGM for Share Capital Increase & Consolidation
AI Summary
Fitness Champs Holdings Ltd will hold an Extraordinary General Meeting (EGM) on June 29, 2026, to seek shareholder approval for several key proposals. These include increasing the company's authorized share capital from $500,000 to $23,000,000 and authorizing the Board to implement a share consolidation (reverse stock split) at a ratio between 2-for-1 and 500-for-1 within one year. Shareholders will also vote on adopting amended articles of association to reflect these changes. The Board unanimously recommends voting for all proposals, but retains discretion to abandon the share consolidation.
Key Highlights
- Fitness Champs Holdings to hold an EGM on June 29, 2026, at 10 a.m. Singapore Time.
- Shareholders of record as of June 9, 2026, are entitled to vote.
- Proposal 1A: Increase authorized share capital from $500,000 to $23,000,000.
- Proposal 1B: Adopt amended M&A to reflect the share capital increase.
- Proposal 2: Authorize board to implement share consolidations (reverse stock split) at a ratio of 2:1 to 500:1 within one year.
- Proposal 3: Adopt further amended M&A to reflect any share consolidations.
- The Board of Directors unanimously recommends voting "FOR" all proposals.
- The Board reserves the right to abandon the Share Consolidation if not in the company's best interest.
Price Impact
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