Latest news with #ExtraordinaryGeneralMeeting
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Cango Inc. Announces Results of Second Extraordinary General Meeting
HONG KONG, July 17, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) ('Cango' or the 'Company') today announced that all resolutions presented to shareholders at its extraordinary general meeting held on July 17, 2025 (the 'Second Extraordinary General Meeting') were duly passed. Each was approved by no less than 99.3% of the total votes cast, and no less than 81% of the votes cast by non-affiliate shareholders of the Company were in favor of each of the resolutions. The approved resolutions authorize significant actions, including the execution and performance of a Securities Purchase Agreement (SPA) dated June 2, 2025, for the secondary sale of 10 million Class B ordinary shares by co-founders Mr. Xiaojun Zhang and Mr. Jiayuan Lin to Enduring Wealth Capital Limited for US$70 million. This includes the repurchase of automatically converted Class A ordinary shares and the issuance of an equivalent number of Class B ordinary shares. Additionally, shareholders approved an increase in the Company's authorized share capital to support future financing and corporate needs, as well as the adoption of the Fourth Amended and Restated Memorandum and Articles of Association to reflect the updated share capital structure. The Company expects to file the Fourth Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar promptly following the Second Extraordinary General Meeting. Closing of the Secondary Sale is expected on or around July 22, 2025, subject to customary closing conditions. While all relevant parties are actively coordinating on the closing of the Secondary Sale, there can be no assurance that these conditions will be satisfied or that the Secondary Sale will be completed on or before the expected closing date—or at all. The full text of each resolution was included in the notice of the Second Extraordinary General Meeting, which was furnished to the Securities and Exchange Commission (the 'SEC') on Form 6-K on June 16, 2025. The full text of each resolution is also available on the Company's website: About Cango Inc. Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through making it easier for global customers to access high-quality vehicle inventory from China. For more information, please visit: Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates' and similar statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the completion, amendment or reversal of any transactions entered into, proposed or considered by Cango; Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; Cango's expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Investor Relations ContactYihe LiuCango +86 21 3183 5088 ext.5581Email: ir@ Logo – View original content:
Business Recorder
4 days ago
- Business
- Business Recorder
Kohinoor Textile Mills plans 5-for-1 stock split to broaden investor base
Kohinoor Textile Mills Limited (KTML) has informed the exchange that its Board of Directors (BoD) has proposed the sub-division of equity shares subject to shareholder approval. 'The board has recommended the sub-division of the company's ordinary shares by reducing the face value from Rs10/- to Rs2/- per share, in accordance with Section 85(1)(c) of the Companies Act, 2017. 'This implies a stock split in the ratio of 5 shares for every 1 share held,' read the notice. Subsequently, the company's Memorandum of Association will be amended to reflect the proposed sub-division of shares. KTML informed that once approved at the Extraordinary General Meeting (EoGM), scheduled to be held on August 15, 2025, the company's existing subscribed and paid-up capital, currently comprising 269,299,456 ordinary shares of Rs10/- each, will be split into 1,346,497,280 ordinary shares of Rs2/- each. As a result, eligible shareholders will receive 5 ordinary shares for every 1 share held. 'The stock split aims to broaden Kohinoor Textile Mills's investor base by making its shares more accessible and affordable for small and retail investors. 'This move is expected to boost market liquidity through increased trading activity. It also underscores the company's confidence in its long-term growth, reflected in the strong rise in its share price over the past year,' it said. Thatta Cement plans 5-for-1 stock split to broaden investor base The listed company was of the view that the split is designed to encourage wider investor participation and strengthen its presence in the equity market. Incorporated in Pakistan under the Companies Act, 1913, Kohinoor Textile Mills Limited is engaged in the manufacturing of yarn and cloth, processing and stitching the cloth and trade of textile products.
Cision Canada
4 days ago
- Business
- Cision Canada
Cango Inc. Announces Results of Second Extraordinary General Meeting
HONG KONG, July 17, 2025 /CNW/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that all resolutions presented to shareholders at its extraordinary general meeting held on July 17, 2025 (the "Second Extraordinary General Meeting") were duly passed. Each was approved by no less than 99.3% of the total votes cast, and no less than 81% of the votes cast by non-affiliate shareholders of the Company were in favor of each of the resolutions. The approved resolutions authorize significant actions, including the execution and performance of a Securities Purchase Agreement (SPA) dated June 2, 2025, for the secondary sale of 10 million Class B ordinary shares by co-founders Mr. Xiaojun Zhang and Mr. Jiayuan Lin to Enduring Wealth Capital Limited for US$70 million. This includes the repurchase of automatically converted Class A ordinary shares and the issuance of an equivalent number of Class B ordinary shares. Additionally, shareholders approved an increase in the Company's authorized share capital to support future financing and corporate needs, as well as the adoption of the Fourth Amended and Restated Memorandum and Articles of Association to reflect the updated share capital structure. The Company expects to file the Fourth Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar promptly following the Second Extraordinary General Meeting. Closing of the Secondary Sale is expected on or around July 22, 2025, subject to customary closing conditions. While all relevant parties are actively coordinating on the closing of the Secondary Sale, there can be no assurance that these conditions will be satisfied or that the Secondary Sale will be completed on or before the expected closing date—or at all. The full text of each resolution was included in the notice of the Second Extraordinary General Meeting, which was furnished to the Securities and Exchange Commission (the "SEC") on Form 6-K on June 16, 2025. The full text of each resolution is also available on the Company's website: About Cango Inc. Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through making it easier for global customers to access high-quality vehicle inventory from China. For more information, please visit: Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the completion, amendment or reversal of any transactions entered into, proposed or considered by Cango; Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; Cango's expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law. SOURCE Cango Inc.
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Business Standard
07-07-2025
- Business
- Business Standard
Norges Bank supports ZEEL's preferential issue of convertible warrants
One of the largest shareholders of Zee Entertainment Enterprises (ZEEL), Norges Bank Investment Management, which manages the Norwegian Government Pension Fund Global, stated on its website on Monday that it will vote in favour of the company's issuance of fully convertible warrants to the promoter group entities on a preferential basis. As per the Bombay Stock Exchange (BSE), the Government Pension Fund Global holds a 3.86 per cent stake as of the quarter ending 31 March. This announcement comes a few days before ZEEL's Extraordinary General Meeting (EGM), which will be held on 10 July. This follows ZEEL's earlier statement in its stock exchange filing that it intends to raise over ₹2,237 crore from the preferential issue of convertible warrants. In June, ZEEL's board of directors approved the issuance of 169,503,400 fully convertible warrants at ₹132 per warrant to the promoter group entities on a preferential basis. These warrants are proposed to be allotted to Altilis Technologies and Sunbright Mauritius Investments, which are linked to the promoter group entities. Through this issue, the promoters, Subhash Chandra and his family, are expected to raise their shareholding in ZEEL to 18.39 per cent from the current 3.99 per cent within 18 months. Additionally, Glass Lewis & Co., a global independent research and proxy advisory services firm, recommended in a report that shareholders vote in favour of the resolution regarding the rise in promoters' shareholding. 'In this case, assuming full conversion of warrants into equity shares of the company (ZEEL), we note that the dilution to current shareholders will be capped at approximately 15 per cent of the share capital, which we consider reasonable. We recommend that shareholders vote FOR this proposal,' the report stated.
Business Upturn
23-06-2025
- Business
- Business Upturn
Eureka Acquisition Corp Announces Postponement of the Extraordinary General Meeting to June 30, 2025 and Extension of Redemption Request Deadline
By GlobeNewswire Published on June 24, 2025, 01:04 IST New York, June 23, 2025 (GLOBE NEWSWIRE) — Eureka Acquisition Corp (the 'Company') (Nasdaq: EURK), a blank check company, today announced that its previously announced extraordinary general meeting in lieu of an annual general meeting of shareholders (the 'Extraordinary General Meeting') will be postponed from 9:00 a.m. Eastern Time on June 25, 2025 to 9:00 a.m. Eastern Time on June 30, 2025 (the 'Postponement') to allow the Company additional time to engage with shareholders. The Extraordinary General Meeting is to be held for the purpose of considering and voting on, among other proposals, a proposal to amend the Company's current charter to provide that the Company has until July 3, 2025 to complete a business combination and may elect to extend up to twelve times, each by a one-month extension, for a total of up to twelve months to July 3, 2026. The record date for determining the Company shareholders entitled to receive notice of and to vote at the Extraordinary General Meeting remains the close of business on May 23, 2025 (the 'Record Date'). Shareholders as of the Record Date can vote, even if they have subsequently sold their shares. Shareholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not to take any action. Shareholders who have not yet done so are encouraged to vote as soon as possible. As a result of the Postponement, the previously disclosed deadline of June 23, 2025 (two business days before the Extraordinary General Meeting, as originally scheduled) for delivery of redemption requests from the Company's shareholders to the Company's transfer agent has been extended to June 26, 2025 (two business days before the postponed Extraordinary General Meeting). Shareholders who wish to withdraw their previously submitted redemption request may do so prior to the postponed Extraordinary General Meeting by requesting that the Company's transfer agent return such shares by 5:00 p.m. Eastern Time on June 26, 2025. There is no change to the location, the record date, or any of the other proposals to be acted upon at the Extraordinary General Meeting. If you have questions regarding the certification of your position or delivery of your shares, please contact: Continental Stock Transfer & Trust Company1 State Street 30th FloorNew York, NY 10004-1561 E-mail: [email protected] The Company's shareholders who have questions regarding the Postponement, the Extraordinary General Meeting, or would like to request documents may contact the Company's proxy solicitor, Advantage Proxy, Inc., at (877) 870-8565, or banks and brokers can call (206) 870-8565, or by email at [email protected]. About Eureka Acquisition Corp Eureka Acquisition Corp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as 'believes,' 'expects,' 'intends,' 'plans,' 'estimates,' 'assumes,' 'may,' 'should,' 'will,' 'seeks,' or other similar expressions. Such statements may include, but are not limited to, statements regarding the date of the Extraordinary General Meeting and the redemption request deadline. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements. Additional Information and Where to Find It On June 3, 2025, the Company filed a definitive proxy statement with the Securities and Exchange Commission (the 'SEC') in connection with its solicitation of proxies for the Extraordinary General Meeting. The Company will amend and supplement the definitive proxy statement to provide information about the Postponement and the redemption request deadline. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER DOCUMENTS THE COMPANY FILES WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the definitive proxy statement (including any amendments or supplements thereto) and other documents filed with the SEC through the web site maintained by the SEC at or by contacting the Company's proxy solicitor. Participants in the Solicitation The Company and its respective directors and officers may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Extraordinary General Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive proxy statement. You may obtain free copies of these documents using the sources indicated above. Contact Information:Fen ZhangChairman and Chief Executive Officer Email: [email protected] Tel: +86 135 0189 0555 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
