Corporate ActionJul 27, 2026, 09:16 AM
Magic Empire Global shareholders approve up to 2,000-for-1 reverse split
AI Summary
Magic Empire Global Ltd. held an Extraordinary General Meeting (EGM) and a Class B Meeting on July 22, 2026, where shareholders approved several key corporate actions. These include a potential share consolidation (reverse stock split) at a ratio up to 2,000-for-1, an increase in the company's authorized share capital from 600 million to 5 billion shares, and a change in the voting rights of Class B Ordinary Shares to confer 100 votes each. The company also adopted an amended memorandum and articles of association and authorized its directors to implement these resolutions.
Key Highlights
- Shareholders approved a potential share consolidation (reverse stock split) with an accumulative ratio up to 2,000-for-1.
- Authorized share capital increased from 600,000,000 to 5,000,000,000 shares.
- Class B Ordinary Shares now confer 100 votes each, significantly altering voting power.
- The fourth amended and restated memorandum and articles of association were approved.
- Directors were authorized to implement all approved resolutions and necessary filings.
Price Impact
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