Tantech Holdings Establishes Dual-Class Share Structure with 50x Voting Power for Class B Shares

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The reclassification of Tantech Holdings' common shares into Class A and Class B, with Class B shares carrying 50 times the voting power of Class A shares, represents a material change in the company's corporate governance structure. While both classes maintain equal economic rights, this move effectively entrenches control with holders of Class B shares, typically founders or insiders. This concentration of voting power can reduce the influence of public shareholders and is generally viewed negatively by investors concerned with corporate governance and shareholder rights.

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• Share Reclassification Approved

  Shareholders approved the amendment and restatement of the Memorandum and Articles of Association on December 30, 2025.

• Dual-Class Structure Established

  Common shares are reclassified into Class A (one vote per share) and Class B (fifty votes per share).

• Voting Power Concentrated

  The new structure significantly concentrates voting control with Class B shareholders, impacting corporate governance.

• Equal Economic Rights

  Both Class A and Class B shares maintain equal rights to dividends and liquidation distributions.

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The reclassification of Tantech Holdings' common shares into Class A and Class B, with Class B shares carrying 50 times the voting power of Class A shares, represents a material change in the company's corporate governance structure. While both classes maintain equal economic rights, this move effectively entrenches control with holders of Class B shares, typically founders or insiders. This concentration of voting power can reduce the influence of public shareholders and is generally viewed negatively by investors concerned with corporate governance and shareholder rights.