Corporate ActionMay 8, 2026, 06:21 AM
Zeta Network Group Shareholders Approve Capital Restructuring
AI Summary
Zeta Network Group shareholders approved a comprehensive capital restructuring plan at an extraordinary general meeting. This includes a reduction in the par value of shares from US$0.25 to US$0.0025, a subsequent increase in authorized share capital from US$320,000 to US$32,000,000, and amendments to the company's memorandum and articles of association. Additionally, shareholders approved a share consolidation proposal with a ratio between 2-for-1 and 4,000-for-1, with the Board authorized to determine the exact ratio and implementation within three years.
Key Highlights
- Extraordinary general meeting held on May 8, 2026, with 72.38% shareholder representation.
- Share capital reduction approved: par value of Class A and B ordinary shares reduced from US$0.25 to US$0.0025.
- Authorized share capital increased from US$320,000 to US$32,000,000.
- Ninth Amended M&A approved to reflect the share capital reduction and increase.
- Share consolidation approved at a ratio of 2-for-1 to 4,000-for-1, to be determined by the Board within three years.
- Tenth Amended M&A approved, conditional on the implementation of the share consolidation.