AGM/EGMJul 15, 2026, 07:06 AM
Megan Holdings Shareholders Approve Share Consolidation, M&A Amendments
AI Summary
Megan Holdings Limited announced the results of its Annual General Meeting held on July 13, 2026. Shareholders approved all three proposals, including a share consolidation (reverse stock split) at a ratio not exceeding one-for-four hundred, to be implemented at the Board's discretion within two years. Additionally, amendments to the company's memorandum and articles of association were approved, reducing the minimum notice period for general meetings from ten to five clear days and shortening the deemed service period for notices sent by post.
Key Highlights
- Shareholders approved a share consolidation (reverse stock split) proposal.
- The share consolidation ratio will not exceed one-for-four hundred (1-for-400).
- The Board has discretion to implement the consolidation within two years.
- Shareholders approved amendments to the M&A for reduced notice periods.
- Minimum notice for general meetings reduced from 10 to 5 clear days.
- Notice served by post deemed served 2 days after posting, down from 5 days.
- An adjournment proposal was also approved, though not utilized.
- 91.14% of exercisable votes were present at the Annual General Meeting.
Price Impact
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