Corporate ActionJun 30, 2026, 05:06 PM
Trident Digital Tech to Vote on 240-for-1 Reverse Split, CEO Debt Conversion
AI Summary
Trident Digital Tech Holdings Ltd announced an Extraordinary General Meeting (EGM) on July 8, 2026, to seek shareholder approval for several key corporate actions. These include a 240-for-1 reverse stock split, a substantial increase in authorized share capital from $50,000 to $1,200,000, and the conversion of an $8,000,000 debt owed to its CEO, Soon Huat Lim, into 901,408,450 Class B ordinary shares. Shareholders will also vote on adopting new Articles of Association to reflect these changes.
Key Highlights
- EGM scheduled for July 8, 2026, to approve capital structure changes.
- Proposes a 240-for-1 reverse stock split of all ordinary shares.
- Authorized share capital to increase from $50,000 to $1,200,000.
- Company to convert $8,000,000 debt owed to CEO into 901,408,450 Class B shares.
- Debt conversion price is $0.008875 per Class B ordinary share.
- Shareholders to approve new Third Amended and Restated Memorandum and Articles of Association.
- Record date for EGM voting is June 10, 2026.
Price Impact
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