Corporate ActionJul 10, 2026, 09:02 AM
Masonglory EGM to vote on 1-for-8 share consolidation, dual-class shares
AI Summary
Masonglory Limited announced an Extraordinary General Meeting (EGM) to be held on July 31, 2026, for shareholders to consider significant corporate actions. The proposals include a 1-for-8 share consolidation, which will reduce the number of outstanding shares and increase the par value. Additionally, the company plans to reclassify its authorized share capital into Class A ordinary shares with one vote per share and Class B ordinary shares with 50 votes per share, with Fung & Tun Limited's shares being re-designated as Class B. These changes will be reflected in a new Memorandum and Articles of Association.
Key Highlights
- Extraordinary General Meeting (EGM) scheduled for July 31, 2026, in Hong Kong.
- Shareholders to vote on a 1-for-8 share consolidation.
- Authorized share capital to change from 500,000,000 shares of US$0.0001 to 62,500,000 shares of US$0.0008.
- Proposed reclassification into 60,000,000 Class A shares (1 vote each) and 2,500,000 Class B shares (50 votes each).
- Fung & Tun Limited's 682,500 shares to be re-designated as Class B shares.
- New Amended and Restated Memorandum and Articles of Association to be adopted.
- Record date for EGM voting is July 8, 2026.
Price Impact
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