Corporate ActionApr 30, 2026, 08:09 AM
LBGJ Shareholders Approve 1-for-200 Share Consolidation, Capital Changes
AI Summary
Li Bang International Corp Inc. shareholders approved several corporate actions at an Extraordinary General Meeting. Key approvals include increasing the authorized share capital, a share capital reduction and reorganization which involved reducing the par value of shares and subdividing unissued shares, and authorizing a 1-for-200 share consolidation. The board has discretion to determine the effective date of the consolidation within two years.
Key Highlights
- Shareholders approved increasing authorized share capital from $31,505,000 to $35,000,000.
- Approved reducing the par value of Class A and Class B ordinary shares from $0.01 to $0.00001.
- Approved subdividing each authorized but unissued $0.01 par value share into 1,000 shares of $0.00001 par value.
- Authorized a 1-for-200 share consolidation, with fractional shares rounded up.
- Board of Directors will determine the exact effective date of the share consolidation within two years.
- All proposals were approved by the required majority of votes cast at the meeting.