The9 Limited announced it will hold an extraordinary general meeting (AGM) on December 27, 2024, in Hong Kong. Shareholders will vote on proposals including the re-election of four directors for three-year terms ending at the 2027 AGM.
The company also approved an increase in its authorized share capital to US$500,000,000, creating an additional 45,000,000,000 shares. This includes 38,700,000,000 Class A Ordinary Shares, 5,400,000,000 Class B Ordinary Shares, and 900,000,000 shares of other classes.
Furthermore, The9's Board of Directors approved the issuance of 50,000,000 Class B ordinary shares to its Chairman and CEO, Mr. Jun Zhu. This issuance aims to ensure continuous control by current management and retain Mr. Zhu's professional expertise, particularly in light of expected growth in online gaming and potential share-based payments for future joint ventures in AI and gaming.
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