Republic Power Group Shareholders Approve Share Consolidation
Republic Power Group Ltd. held an Extraordinary General Meeting (EGM) on April 30, 2026, where shareholders approved several key corporate actions. These include the repurchase of 505,664 Class A Ordinary Shares from True Sage International Limited in exchange for an equal number of new Class B Ordinary Shares. Additionally, shareholders approved the amendment and restatement of the company's memorandum and articles of association, and a share consolidation proposal for both Class A and Class B Ordinary Shares at a ratio between 1-for-2 and 1-for-100, with the exact terms to be determined by the Board within 180 days. A minor discrepancy in the Class B share count was noted but did not impact the EGM's quorum or voting results.
Key Highlights
- Shareholders approved the repurchase of 505,664 Class A shares from True Sage International.
- Company will issue 505,664 new Class B shares to True Sage International.
- Shareholders approved the amendment and restatement of the company's memorandum and articles of association.
- Share consolidation proposal approved with a ratio range of 1-for-2 to 1-for-100.
- Board to determine the exact share consolidation ratio and effective date within 180 days.
- Share Repurchase Proposal approved with 21,317,187 votes For.
- M&A Amendment Proposal approved with 21,318,775 votes For.
- Share Consolidation Proposal approved with 21,312,134 votes For.