[SCHEDULE 13G] Enigmatig Limited SEC Filing
Enigmatig Limited reports that Foo Chee Weng Desmond beneficially owns 15,750,000 Class B ordinary shares, with sole voting and sole dispositive power over those shares. On an as-converted basis—treating Class B shares as convertible into Class A for percentage calculations—this holding represents 56.2% of the outstanding Class A-equivalent shares, based on the issuer's reported share counts. Each Class B ordinary share carries 10 votes and is convertible into one Class A ordinary share at the holder's option, while Class A shares carry one vote each.
The filing discloses that the reporting person has no shared voting or dispositive power and holds full control of the reported stake. The statement is a factual ownership disclosure and does not include any other transactions, arrangements, or third-party holdings.
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Insights
TL;DR: The filing shows a single holder with a majority as-converted stake and full sole voting control of the issuer.
The disclosure that Foo Chee Weng Desmond holds 15,750,000 Class B shares and sole voting/dispositive power is materially significant because it yields a >50% ownership on an as-converted basis. For securities analysts this clarifies the ownership structure and voting dynamics: Class B shares provide amplified voting influence (10 votes each) and are convertible into Class A shares at the holder's option, concentrating decision-making power. The filing contains no other indicative transactions or agreements that would change the capital structure.
TL;DR: Concentrated Class B ownership produces decisive voting control, raising governance implications for minority holders.
The reporting shows complete sole voting authority over 15,750,000 Class B shares and a computed 56.2% as-converted stake, demonstrating a dominant governance position. From a governance perspective, the combination of enhanced voting rights (10 votes per Class B share) and sole dispositive power means the reporting person can unilaterally influence corporate decisions that require shareholder approval. The filing does not disclose any shareholder agreements or power-sharing arrangements that might mitigate concentration.