AGM/EGMMay 26, 2026, 06:07 AM
Uni-Fuels Holdings to Vote on 250:1 Share Consolidation, Class B Voting Rights
AI Summary
Uni-Fuels Holdings Ltd. announced an Extraordinary General Meeting (EGM) on June 8, 2026, for shareholders to vote on several key proposals. These include increasing the voting power of Class B ordinary shares from 10 to 100 votes, authorizing a significant increase in the company's share capital, and adopting new articles of association. Additionally, shareholders will consider authorizing the Board to implement a share consolidation (reverse stock split) at a ratio not exceeding 250:1 within a two-year period.
Key Highlights
- EGM scheduled for June 8, 2026, to vote on five proposals.
- Proposal One: Increase Class B ordinary share votes from 10 to 100 votes.
- Proposal Two: Increase authorized share capital from $50,000 to $500,000.
- Proposal Two: Create an additional 4,050,000,000 Class A and 450,000,000 Class B shares.
- Proposal Four: Authorize Board to implement share consolidation up to 250:1 ratio within 2 years.
- Record date for voting is May 18, 2026.
- As of May 18, 2026, 9,815,000 Class A and 22,650,000 Class B shares were outstanding.
Price Impact
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