Farmmi (FAMI) investors approve sweeping capital reduction and new par value
Rhea-AI Filing Summary
Farmmi, Inc. reported the results of an extraordinary general meeting where shareholders approved a special resolution to reduce the company’s share capital. The meeting had strong participation, with 10,271,384 voting shares present, representing 74.35% of issued voting shares and satisfying quorum requirements.
Shareholders approved a capital reduction that sets the authorised share capital at US$50, divided into 4,500,000,000 Class A Ordinary Shares and 500,000,000 Class B Ordinary Shares, each with a nominal or par value of US$0.000,000,010, by reducing the par value of each Class A and Class B share by US$2.399,999,990. The proposal passed overwhelmingly, with 10,447,932 votes for, 12,646 against and 583 abstentions, indicating broad shareholder support for the capital structure change.
Positive
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Insights
Farmmi shareholders approved a major par value reduction with strong support.
The resolution restructures Farmmi’s authorised share capital to a total of
Such capital reductions typically affect the legal and accounting representation of equity rather than day-to-day operations. The vote was highly one-sided, with 10,447,932 votes in favour versus 12,646 against and 583 abstentions, suggesting clear shareholder alignment. Future company filings may explain how this revised capital structure interacts with any subsequent corporate actions or financing plans.