EDTK holders approve super-voting Series B shares and potential issuance
Rhea-AI Filing Summary
Skillful Craftsman Education Technology Limited reported the results of its extraordinary general meeting. Shareholders approved designating 4,000,000 authorised but unissued shares as Series B Preference Shares, each carrying 200 votes per share, subject to the Certificate of Designation. Immediately following that designation becoming effective, shareholders also approved a Securities Purchase Agreement with Mr. Xuejun Ji and the issuance of 4,000,000 Series B Preference Shares to him pursuant to that agreement.
The company stated that, as of this report, it has not entered into the agreement with Mr. Ji and no Series B Preference Shares have been issued. These approvals outline the capital and voting structure changes that may occur once the designation is effective and the agreement is executed.
Positive
- None.
Negative
- None.
Insights
Shareholders cleared super-voting Series B prefs and a potential issuance to a single investor; execution remains pending.
Shareholders approved a new class of Series B Preference Shares that carry
If completed, concentrating high-vote shares with one holder could materially influence voting outcomes. Actual impact depends on when the designation becomes effective and whether the agreement is executed, as the company states no shares have been issued as of this