AGM/EGMJul 27, 2026, 04:06 PM
Phaos Tech to Hold EGM for Share Capital Increase, Reverse Split Auth
AI Summary
Phaos Technology Holdings (Cayman) Limited will hold an Extraordinary General Meeting on August 18, 2026, to vote on several key proposals. These include a substantial increase in the company's authorized share capital from US$100,000 to US$10,000,000,000. Shareholders will also vote on authorizing the Board to implement one or more share consolidations (reverse stock splits) with a cumulative ratio of up to 50:1 over two years, primarily to maintain NYSE American listing requirements. Additionally, the meeting will address amending the company's memorandum and articles of association and approving the issuance of 2,900,000 Class B Ordinary Shares to Hong Loon Gan.
Key Highlights
- Extraordinary General Meeting scheduled for August 18, 2026.
- Proposal to increase authorized share capital from US$100,000 to US$10,000,000,000.
- Proposal to authorize Board for share consolidations up to a 50:1 cumulative ratio.
- Share consolidations aimed at maintaining NYSE American bid price listing requirement.
- Proposal to amend and restate memorandum and articles of association.
- Proposal to issue 2,900,000 pre-consolidation Class B Ordinary Shares to Hong Loon Gan.
- Board of Directors unanimously recommends voting 'FOR' all proposals.