GIBO Holdings Limited filed a 6-K announcing an Extraordinary General Meeting on April 6, 2026, to vote on proposals including a 200x increase in authorized share capital to 50 billion shares, authorization for the Board to implement share consolidations up to 100:1 over two years to comply with Nasdaq minimum bid price requirements, and related amendments to the memorandum and articles of association.
Key takeaways
EGM scheduled for April 6, 2026 at 8:30 PM Malaysia Standard Time (8:30 AM ET) in Kuala Lumpur
Proposal 1: Increase authorized share capital from US$50,000 (250M shares) to US$10M (50B shares, 45B Class A, 5B Class B), ordinary resolution
Proposal 2: Authorize Board for share consolidations up to 100:1 cumulative ratio within 2 years post-EGM to meet Nasdaq bid price compliance
Proposal 3: Adopt Third Amended and Restated M&AA, special resolution requiring 2/3 vote
Proposal 4: Conditional approval of Amended M&AA for each share consolidation implemented within 2 years
Proposal 5: General Authorization for Mr. Chun Yen “Dereck” Lim and service providers to execute related actions
Record date: March 2, 2026; Proxy deadline: 11:59 p.m. ET on April 4, 2026