MicroCloud Hologram Inc. (NASDAQ: HOLO), (the “Company”), today announced that its 2024 Annual General Meeting of the Shareholders (the “AGM”) was duly held on September 27, 2024, at the Company’s headquarters in Shenzhen, China. At the AGM, the following proposals were approved and adopted:
- THAT every 20 issued and unissued ordinary shares of a nominal or par value of US$0.001 each in the capital of the Company (the “Ordinary Shares“) be consolidated into one (1) share of a nominal or par value of US$0.02 each, and such Consolidated Shares shall rank pari passu in all respects with each other in accordance with the Company’s currently effective memorandum and articles of association (the “Share Consolidation“) such that following the Share Consolidation the authorized share capital of the Company will be changed FROM US$500,000 divided into 500,000,000 shares of a nominal or par value of US$0.001 each TO US$500,000 divided into 25,000,000 shares of a nominal or par value of US$0.02 each (the “Consolidated Ordinary Shares”)
- To consider and vote upon an ordinary resolution to increase the Company’s share capital after the Share Consolidation: THAT conditional upon and effective immediately following the Share Consolidation, increase the authorized share capital of the Company FROM US$500,000 divided into 25,000,000 Consolidated Ordinary Shares, TO US$10,000,000 divided into 500,000,000 Consolidated Ordinary Shares (“Share Capital Increase“), by the creation of an additional 475,000,000 Consolidated Ordinary Shares
- To consider and vote upon a special resolution to delete the existing Article 15.6 of the Company’s currently effective Amended and Restated Memorandum and Articles of Association (the “Current M&A“) in its entirety and the substitution therefor the following: “An appointment of a director may be on terms that the director shall automatically retire from office (unless he has sooner vacated office) at the next or a subsequent annual general meeting or upon any specified event or after any specified period in a written agreement between the Company and the director, if any; but no such term shall be implied in the absence of express provision. Each director whose term of office expires shall be eligible for re-election at a meeting of the Members or re-appointment by the board of directors.”
- To consider and vote upon a special resolution to create as Dual-Class Structure (defined below) and adopt a second amended and restated memorandum and articles of association: conditional upon and effective immediately following the Share Consolidation and the Share Capital Increase, vary the authorized share capital of the Company to create and adopt a dual-class share structure (the “Dual-Class Structure“) by a) re-designating all the issued and outstanding Consolidated Ordinary Shares into class A ordinary shares of a nominal or par value of US$0.02 par value each (the “Class A Ordinary Shares“), and each Class A Ordinary Share shall be entitled to one (1) vote per Class A Ordinary Share; b) re-designated 379,455,801 authorized but unissued Consolidated Ordinary Shares into Class A Ordinary Shares; and c) re-designating 100,000,000 authorized but unissued Consolidated Ordinary Shares into class B ordinary shares of a nominal or par value of US$0.02 each (the “Class B Ordinary Shares“), and each Class B Ordinary Share shall be entitled to 20 votes per Class B Ordinary Share (the “Variation of Share Capital“), such that immediately following the Variation of Share Capital, the authorized share capital of the Company shall be changed FROM US$10,000,000 divided into 500,000,000 Consolidated Ordinary Shares TO US$10,000,000 divided into 400,000,000 Class A Ordinary Shares, and 100,000,000 Class B Ordinary Shares; and adopt a second amended and restated memorandum and articles of association of the Company to, among other amendments, reflect the adoption of the Dual-Class Structure and the Variation of Share Capital. (the “Dual-Class Structure Proposal“)
previous
The Evolving Role of the CIO: Navigating Innovation Challenges
next