Corporate ActionMay 18, 2026, 06:12 AM
Ryde Group Issues 3.5M Class B Shares to CEO; Voting Power Rises to 56.74%
AI Summary
Ryde Group Ltd issued 3,500,000 Class B Ordinary Shares to its Founder, Chairman, and CEO, Mr. Terence Zou, upon the satisfaction of approved performance-based milestones. These milestones included the successful completion of a $2 million registered direct offering and a $12 million private offering in December 2025. Following this issuance, Mr. Zou beneficially owns 19,677,175 Class B Ordinary Shares, which represents approximately 11.59% of the company's total issued share capital and 56.74% of the aggregate voting power.
Key Highlights
- Ryde Group issued 3,500,000 Class B Ordinary Shares to CEO Terence Zou.
- Issuance followed achievement of approved performance-based milestones.
- Milestones included a $2 million registered direct offering completion.
- Milestones also included a $12 million private offering completion.
- CEO Terence Zou now beneficially owns 19,677,175 Class B Ordinary Shares.
- This represents approximately 11.59% of total issued share capital.
- This constitutes approximately 56.74% of the aggregate voting power.
- Class B Ordinary Shares entitle holders to 10 votes per share.
Price Impact
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