Decent Holding (DXST, Financial) has unveiled a resolution to overhaul its share capital and governance framework, which is effective immediately. The plan involves restructuring its authorized share capital of $50,000, split into 500 million shares at a par value of $0.0001 each.
As part of this reorganization, all 16,250,000 issued and outstanding Ordinary Shares, including 8,026,000 held by Decent Limited, will be converted into Class A ordinary shares with a par value of $0.0001 per share, each carrying one vote and additional rights as per the Second Amended and Restated Memorandum and Articles of Association. Furthermore, Decent Limited's 5,000,000 Ordinary Shares will be reclassified into Class B ordinary shares, each offering twenty votes per share.
The remaining 483,750,000 unissued shares will be designated as Class A Ordinary Shares. Consequently, the company’s authorized share capital now consists of 495 million Class A Ordinary Shares and 5 million Class B Ordinary Shares. Additionally, the adoption of the Second Amended and Restated Memorandum and Articles of Association aims to enhance governance, simplify voting processes, and improve shareholder communications while ensuring equal economic rights for all stakeholders.
