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Founder Group Ltd’s chief executive officer, Lee Seng Chi, has filed a Schedule 13D reporting beneficial ownership of 7,802,794 Class A share equivalents, representing 18.80% of the Class A class on an as-converted basis. This total includes 2,607,954 Class A shares and 5,194,840 Class B shares, with each Class B share convertible into one Class A share and carrying twenty votes per share versus one vote for each Class A share.
Lee initially held 4,832,954 ordinary shares at the company’s initial public offering, which were redesignated in July 2025 into 2,832,954 Class A shares and 2,000,000 Class B shares. Between December 2025 and January 2026, he sold 225,000 Class A shares in the open market. On January 8, 2026, he received a grant of 3,194,840 Class B shares from the company as incentive payments for successfully procuring contracts related to large-scale solar photovoltaic projects in Malaysia.
Reservoir Link Energy Bhd, a Malaysian public company, disclosed significant ownership in Founder Group Ltd Class A Shares. It reports beneficial ownership of 7,650,000 Class A Shares, equal to 23.16% of the Class A class on an as-converted basis. This stake consists of 5,650,000 Class A Shares and 2,000,000 Class B Shares, with each Class B Share convertible into one Class A Share and carrying twenty votes per share, versus one vote for each Class A Share. The percentage ownership is calculated assuming all Class B Shares are converted, based on a total of 33,033,700 shares outstanding on an as-converted basis as of December 31, 2025.
Founder Group Limited reports that its board approved the issuance of 3,194,840 Class B shares to chief executive officer and chairman Lee Seng Chi and 2,129,893 shares to non-executive director Thien Chiet Chai as incentive payments for securing contracts for large-scale solar photovoltaic projects in Malaysia. The issuance is expected to be completed by January 2026.
After this issuance, the board also approved a one hundred-to-one share combination of all Company shares, covering both Class A and Class B shares, to take effect on the market effective date approved by Nasdaq. No fractional shares will be left outstanding, as any fractional holdings will be rounded up through the issue of bonus shares.
Founder Group Limited entered into a secured convertible note financing with Streeterville Capital for an original principal amount of $16,070,000. The note includes a $1,050,000 original issue discount and $20,000 of transaction expenses, and bears simple interest at 6% per year. It is convertible into Class A Ordinary Shares at a price equal to 82.5% of the lowest daily volume-weighted average price over ten consecutive trading days before the measurement date, with the investor able to demand cash repayment instead of shares if the conversion price is below $0.06874.
At closing, the investor paid $3,000,000 directly to the company and $12,000,000 into a controlled deposit account of wholly owned subsidiary Founder Capital, LLC to secure the note. The company’s obligations are further secured by a guaranty from Founder Capital and a pledge of its equity. Founder Group also agreed to file a Form F-1 registration statement within 30 days to register at least 230,000,000 Class A Ordinary Shares for the investor’s resale of conversion shares.
Founder Group Limited reported that its 2025 annual general meeting of shareholders was held virtually on December 5, 2025 at 10 a.m. Eastern Time. The meeting was conducted following duly given notice and took place as a virtual-only event, allowing shareholders to attend remotely. At the meeting, shareholders adopted the resolutions presented, though the specific resolutions are not detailed in this excerpt.
Founder Group Limited submitted a Form 6-K as a foreign private issuer to provide its financial results for the six months ended June 30, 2025 and to discuss recent corporate developments. The filing includes unaudited condensed consolidated financial statements and related notes, along with management’s discussion and analysis.
The document also contains a detailed caution on forward-looking statements, explaining that future performance statements are based on current assumptions and are subject to risks such as product demand, technology changes, economic conditions, competition, pricing, and government regulation.
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.