At its Annual General Meeting on August 25, 2025, INNEOVA Holdings Limited shareholders approved significant corporate actions aimed at optimizing its capital structure and enhancing governance. A special resolution was passed to re-designate and re-classify the company's share capital into a dual-class structure. This new structure includes Class A ordinary shares with one vote per share, Class B ordinary shares with 100 votes per share, and preferred shares.
The parent company, Soon Aik Global Pte. Ltd., was allocated 4.00 million Class B Ordinary Shares, solidifying its control. Additionally, an ordinary resolution was approved for a share consolidation, or reverse stock split. The exact ratio for this consolidation will range from one-for-two to one-for-fifty, to be determined by the Board of Directors within 180 days.
These actions are intended to support the company's long-term stability and market appeal as it undergoes a strategic transformation into new, sustainable markets. The share consolidation is typically undertaken to increase the per-share price, potentially to meet stock exchange listing requirements or attract institutional investors. These moves reflect a proactive management team focused on the company's evolving strategy.
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