MEGL shareholders clear path for 8.3x authorized share expansion and up to 2,000-for-1 reverse split

summarizeSummary

Magic Empire Global shareholders approved an increase in authorized shares to 5 billion and authorized a reverse stock split of up to 2,000-for-1, paving the way for major capital restructuring after a recent change in control.

check_boxKey Events · Corporate Governance and Compliance · MEGL

• Authorized Shares Surge to 5 Billion

  Shareholders approved an increase from 600 million to 5 billion authorized shares—an 8.3x expansion—split into 2.33 billion Class A, 166.67 million Class B, and 2.5 billion non-voting shares.

• Reverse Split Up to 2,000-for-1 Authorized

  The board can now implement one or more share consolidations at a cumulative ratio of up to 2,000-for-1 within two years, with fractional shares rounded up.

• Class B Voting Power Amplified

  Class B ordinary shares will now carry 100 votes each, up from the previous ratio, while Class A shares retain one vote and non-voting shares have none, concentrating control.

• Overwhelming Shareholder Support

  Proposals passed with over 99% approval: 21.7 million votes for the share increase vs. 40,665 against, and 21.6 million for the reverse split vs. 81,031 against.

auto_awesomeAnalysis · MEGL · Finance

In a sweeping vote, shareholders overwhelmingly approved an 8.3x expansion of authorized shares—from 600 million to 5 billion—and granted the board authority to execute a reverse stock split of up to 2,000-for-1 within two years. The move follows a June 2026 change in control, where new investors acquired a 52.1% stake. With near-unanimous support (over 99% in favor on key proposals), the new controlling group has cleared the way for significant future dilution and a potential share consolidation, both of which could dramatically reshape the capital structure.