Meiwu Technology to Hold EGM for Share Reclassification & Repurchase
Meiwu Technology Co Ltd announced an Extraordinary General Meeting (EGM) to be held on September 14, 2026, to approve significant changes to its share capital structure and corporate governance. The proposals include re-designating ordinary shares into Class A and Class B shares, with Class B shares carrying 150 votes each. The company also plans to repurchase Class A shares from its Chairman, Mr. Changbin Xia, and Union International Company Limited, and issue them corresponding Class B shares, which will significantly increase Mr. Xia's voting power. Additionally, an amended Memorandum and Articles of Association will be adopted to reflect these changes and reduce the quorum for shareholder meetings.
Key Highlights
- Extraordinary General Meeting (EGM) scheduled for September 14, 2026, at 10:00 p.m. Beijing time.
- Shareholders to vote on re-designating ordinary shares into Class A and Class B ordinary shares.
- Class B Ordinary Shares will confer 150 votes each, while Class A will have 1 vote.
- Company to repurchase 135,000 Class A Ordinary Shares from Mr. Changbin Xia and 73 from Union International Company Limited.
- Correspondingly, 135,000 Class B Ordinary Shares will be issued to Mr. Changbin Xia and 73 to Union International Company Limited.
- Mr. Xia's voting power will increase from 0.51% to 43.61% after the reclassification and repurchase.
- Shareholders to approve an amended and restated M&AA reflecting these changes and reducing the meeting quorum.
- Record date for voting is August 10, 2026.
Price Impact
More from WNW