Founder Group Ltd SEC Filings

Founder Group Limited filed a Form 6-K as a foreign private issuer to provide materials for its 2025 Annual General Meeting of Shareholders. The company is incorporated in the British Virgin Islands and operates from Selangor, Malaysia.

The filing furnishes three key documents as exhibits: a formal notice of the 2025 Annual General Meeting of Shareholders, a proxy form for shareholders to cast their votes, and an Amended and Restated Memorandum and Articles of Association of Founder Group Limited. The report is signed on behalf of the company by Chief Executive Officer, Director, and Chairman of the Board, Lee Seng Chi.

Founder Group Limited reported a Heads of Agreement with PLANET QEOS Sdn. Bhd. to jointly develop a large-scale renewable energy facility in Sarawak, Malaysia, valued at up to RM1.16 billion [USD276 million]. The project is described as a 310 MWp solar-plus-storage development anchoring a regional green data centre.

The parties intend to form a special purpose vehicle, with Founder Group to hold 45% and PLANET QEOS 55%, and expect to enter a joint venture and shareholders’ agreements to govern the SPV. The arrangement sets a commercial framework and completion is subject to the negotiation and execution of definitive agreements and customary closing conditions.

Founder Group Ltd filings show that Avondale Capital, LLC and related reporting persons beneficially own 1,939,587 ordinary shares, representing 9.99% of the 19,415,289 shares outstanding reported on May 19, 2025. The stake is held directly by Avondale and is beneficially reported by Streeterville Capital LLC, Streeterville Management LLC and John M. Fife through their ownership and management relationships. The position arises under a Pre-Paid Purchase agreement that includes a contractual ownership cap set at 9.99%. The filers certify the shares were not acquired to change or influence control.

Founder Group Limited ("FGL") reported the outcomes of its 8 July 2025 virtual extraordinary general meeting via this Form 6-K. Shareholders approved an amended and restated memorandum and articles of association that introduces a dual-class capital structure. Two new classes of ordinary shares were created: Class A shares (one vote per share) and Class B shares (twenty votes per share). Both classes carry identical economic rights, including dividend and liquidation entitlements.

The meeting also authorised specific share redesignations: (1) the 2 million ordinary shares held by Chief Executive Officer Lee Seng Chi and (2) the 2 million shares held by Reservoir Link Energy Bhd were converted into Class B shares; all remaining ordinary shares were redesignated as Class A shares. These resolutions took effect immediately following shareholder approval and were formally disclosed on 14 July 2025.

The new structure preserves pari-passu economic treatment but materially redistributes voting power, concentrating effective control with the holders of Class B shares—chiefly the CEO and a strategic investor—while reducing the relative influence of public shareholders. No financial performance, earnings, or transactional data accompanied this governance-focused filing.

Founder Group Limited (FGL) has filed a Form 6-K reporting key corporate governance developments. The company has announced an upcoming 2025 Extraordinary General Meeting of Shareholders and has furnished three important documents:

• Notice of the 2025 Extraordinary General Meeting
• Proxy Form for shareholder voting
• Amended and Restated Memorandum and Articles of Association

The filing was signed by Lee Seng Chi, who serves as Chief Executive Officer, Director, and Chairman of the Board. The Malaysia-based company, incorporated in the British Virgin Islands, confirms it files annual reports under Form 20-F. This filing suggests potential significant corporate governance changes or strategic decisions requiring shareholder approval, though specific agenda items are not detailed in this report.