Magic Empire Global Ltd

Magic Empire Global Ltd has entered into a Securities Purchase Agreement to sell Class A ordinary shares for an aggregate purchase price of $5,000,000. The shares will be sold at $0.25 per share, which is a significant discount, representing 21.46% of the previous day's closing price. The purchasers are non-U.S. persons, and payment can be made in traditional currency or cryptocurrencies like USDC, USDT, or Bitcoin. The company intends to use the net proceeds for working capital and general corporate purposes.

Magic Empire Global Ltd. held an Extraordinary General Meeting (EGM) and a Class B Meeting on July 22, 2026, where shareholders approved several key corporate actions. These include a potential share consolidation (reverse stock split) at a ratio up to 2,000-for-1, an increase in the company's authorized share capital from 600 million to 5 billion shares, and a change in the voting rights of Class B Ordinary Shares to confer 100 votes each. The company also adopted an amended memorandum and articles of association and authorized its directors to implement these resolutions.

Magic Empire Global Ltd announced a change in its Chief Financial Officer position. Ms. Yau Ting Tai resigned from her role as CFO, effective June 15, 2026, citing personal reasons and no disagreements with the company. The Board subsequently appointed Ms. Mei Wang as the new CFO, effective June 17, 2026. Ms. Wang brings over 33 years of extensive financial and banking experience, including executive roles at the Agricultural Bank of China, and is expected to contribute significantly to the company's financial stewardship.

Magic Empire Global Ltd announced significant leadership changes, with Chairman Mr. Wai Ho Chan and Chief Executive Officer Mr. Sze Hon Johnson Chen resigning, along with Independent Director Ms. Ka Lee Lam, all effective June 11, 2026, for personal reasons. The Board immediately appointed Ms. Shufen Huang as Chairperson, Interim CEO, and Director, Ms. Jingxin Feng as Director, and Mr. Ke Yang as Independent Director. The company also clarified its non-involvement in a recent share purchase agreement, stating no material adverse impact is anticipated on its business operations or financial position.