Ohmyhome Shareholders Greenlight Colossal Authorized Share Expansion and Reverse Split

summarizeSummary

Ohmyhome shareholders approved an increase in authorized shares to 100 trillion and a reverse stock split of up to 5,000:1, granting the board broad authority to restructure the company's capital.

check_boxKey Events · Corporate Governance and Compliance · OMH

• Authorized Share Increase Approved

  Shareholders voted to boost authorized shares from 750 billion to 100 trillion, comprising 90 trillion Class A and 10 trillion Class B shares, giving the board immense capacity to issue new equity.

• Reverse Stock Split Authorized

  A reverse stock split ranging from 2:1 to 5,000:1 was approved, with the board empowered to set the exact ratio within two years, a step aimed at regaining Nasdaq compliance.

• Capital Reduction and Sub-division

  The par value was slashed from $0.01 to $0.0000001, and each unissued share was subdivided into 100,000 shares, further expanding the authorized share count to 10 quintillion.

• Director Re-appointments and Auditor Ratified

  All four director nominees were re-appointed and the appointment of Enrome LLP as auditor was ratified, ensuring board continuity.

auto_awesomeAnalysis · OMH · Real Estate & Construction

With overwhelming support, shareholders have approved a staggering increase in authorized shares—from 750 billion to 100 trillion—alongside a reverse stock split of up to 5,000:1. The board now holds sweeping authority to issue shares and consolidate the stock, a move clearly designed to cure the Nasdaq minimum bid price deficiency and facilitate capital raising. This vote confirms that a dramatic capital restructuring is underway, one that could subject existing holders to extreme dilution if the newly authorized shares are deployed.