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Megan Holdings Ltd. (MGN) reports that its board has approved a 1-for-30 consolidation of its issued and unissued Class A and Class B Ordinary Shares (the “Share Consolidation”). The consolidation will become marketplace effective on The Nasdaq Capital Market on September 17, 2026.
This update supersedes an earlier plan for a 1-for-40 consolidation effective September 8, 2026, which is no longer applicable. Class A Ordinary Shares will begin trading on a post-consolidation basis under the existing symbol “MGN,” and any fractional shares will be rounded up to the nearest whole share at the participant level.
Megan Holdings Limited (MGN) reports that its previously approved 1-for-40 share consolidation of issued and unissued ordinary shares will become effective for trading on The Nasdaq Capital Market on Tuesday, September 8, 2026, described as the Marketplace Effective Date.
The Company’s Class A Ordinary Shares will begin trading on a post-consolidation basis on that date under the existing trading symbol “MGN”. Any fractional shares created by the Share Consolidation will be rounded up to the nearest whole share at the participant level.
Megan Holdings Ltd. (MGN) reports that shareholders approved three key proposals at an extraordinary general meeting. Holders representing 256,222,166 votes, or 90.86% of voting power, were present, and all resolutions passed by a large majority.
Shareholders approved a 40-for-1 Share Consolidation of both Class A and Class B ordinary shares, with fractional shares rounded up, effective August 21, 2026, while the marketplace effective date on Nasdaq will be set later. They also approved a capital reorganization that ultimately sets authorized share capital at US$50,000 divided into 500,000,000 Ordinary Shares of par value US$0.0001 each. A fourth amended and restated memorandum and articles of association was adopted, including lowering the written-ordinary-resolution approval threshold from unanimity to a majority of total voting rights.
Megan Holdings Ltd. (MGN) reports that its previously disclosed 1-for-40 share consolidation of ordinary shares is still subject to timing coordination for when it will take effect in trading on The Nasdaq Capital Market. The share consolidation and related proposals are scheduled to be considered at an Extraordinary General Meeting of Shareholders on August 21, 2026 at 10:00 a.m. Kuala Lumpur Time.
The company clarifies that the marketplace effective date will be on a date after August 21, 2026, to be determined in coordination with The Nasdaq Stock Market LLC, The Depository Trust Company and the company’s transfer agent. This clarification does not affect the holding of the meeting or the resolutions to be voted on by shareholders.
Megan Holdings Limited amends its August 11, 2026 shareholder materials to correct the deadline for proxy voting instructions to August 20, 2026 at 11:59 a.m. Kuala Lumpur Time (August 19, 2026 at 11:59 p.m. Eastern Time). An extraordinary general meeting is scheduled for August 21, 2026 to vote on three proposals.
Shareholders are asked to approve a 1‑for‑40 Share Consolidation of all Class A and Class B ordinary shares, with fractional shares rounded up, aimed at supporting compliance with Nasdaq’s minimum bid price. A related Capital Reorganization would reduce par value back to US$0.0001 and then increase authorized capital to 500,000,000 ordinary shares while keeping total authorized capital at US$50,000.
A third proposal would adopt a fourth amended and restated memorandum and articles of association to reflect the capital changes and lower the approval threshold for written ordinary resolutions from unanimity to a majority of voting rights. As of the August 6, 2026 record date, Star Sprite Limited controlled about 90.73% of voting power and intends to vote in favor, effectively assuring approval.
Megan Holdings Limited is calling an extraordinary general meeting on August 21, 2026 (Kuala Lumpur time) to seek shareholder approval for several capital and governance changes. Proposal One is a 1‑for‑40 share consolidation of all issued and unissued Class A and Class B ordinary shares, effective August 21, 2026, with par value per share increasing from US$0.0001 to US$0.004 and fractional shares rounded up to the nearest whole share at the participant level.
Proposal Two is a Capital Reorganization: after the consolidation, the Company would reduce authorized share capital from US$50,000 (12,500,000 Class A and 1,250,000 Class B at US$0.004) to US$1,250 (the same number of shares at US$0.0001) and then increase authorized capital back to US$50,000, creating a total of 500,000,000 ordinary shares at US$0.0001 (438,750,000 Class A and 48,750,000 Class B). The reduction amount will be credited to the share premium account, subject to a Cayman solvency statement.
Proposal Three adopts a fourth amended and restated memorandum and articles, reflecting the capital changes and lowering the threshold for written ordinary resolutions to a majority of voting rights instead of unanimity. As of August 6, 2026, there were 32,000,000 Class A and 5,000,000 Class B shares outstanding, with Class B carrying 50 votes per share. Star Sprite Limited, controlled by CEO Hoo Wei Sern, holds shares representing about 90.73% of voting power and intends to vote in favor of all proposals, effectively assuring approval.
Megan Holdings Limited corrected its February 2026 shareholder meeting disclosure and confirmed that previously reported voting results remain accurate. The amendment clarifies that Proposal Two was a special resolution to adopt a dual-class share capital structure, and that the meeting was the Annual General Meeting.
At the January 27, 2026 Annual General Meeting, shareholders holding 10,849,126 votes, or 66.76% of votes exercisable as of January 2, 2026, approved all six proposals. SFAI MALAYSIA PLT was appointed auditor for the fiscal year ending December 31, 2025. Shareholders approved a dual-class structure under which Class A Ordinary Shares carry 1 vote and Class B Ordinary Shares carry 50 votes.
They also approved changing authorized share capital to 500,000,000 ordinary shares of US$0.0001 par value, comprising 450,000,000 Class A and 50,000,000 Class B shares, along with extensive share redesignations and adoption of a Second Amended and Restated Memorandum and Articles of Association to reflect the new structure. An adjournment authority resolution was also approved.
Megan Holdings Limited shareholders approved all three proposals at the July 13, 2026 annual general meeting. Turnout was high, with 257,003,827 votes, representing 91.14% of votes exercisable, present through 7,003,827 Class A and 5,000,000 Class B Ordinary Shares as of the record date.
The meeting authorized the Board, in its sole discretion within two years, to implement one or more Share Consolidations at an aggregate ratio not exceeding 1-for-400, with fractional shares rounded up to the nearest whole share. Shareholders also adopted a Third Amended and Restated Memorandum and Articles of Association, reducing the minimum notice for general meetings from ten to five clear days and deeming postal notices served after two calendar days. An adjournment resolution to allow postponement of the meeting if needed for additional proxy solicitation was also approved.
Megan Holdings Limited has called an annual general meeting for July 13, 2026 in Kuala Lumpur. Shareholders will vote on authorizing the board to implement one or more share consolidations of both Class A and Class B ordinary shares at a ratio of up to 1-for-400, with fractional shares rounded up. The proxy explains that this flexibility is intended to help meet Nasdaq’s minimum bid price requirement. Investors will also vote on amending the memorandum and articles of association to shorten general meeting notice from ten to five clear days and reduce postal deemed-service from five to two calendar days, plus a proposal allowing adjournment of the meeting if more time is needed to gather votes.
Megan Holdings Limited, a Cayman Islands holding company operating mainly in Malaysia, reports on its aquaculture-focused construction and maintenance business. Revenue comes from upgrading and maintaining farms, designing and developing new farms, and sourcing materials and rental machinery, with shrimp-related projects a major contributor.
The company completed a Nasdaq IPO on Class A Ordinary Shares in September 2025, raising US$5.0 million, followed by a February 2026 follow-on offering of 20,750,000 Class A shares for about US$8.3 million in gross proceeds. In January 2026 it adopted a dual-class share structure, giving founder-CEO Darren Hoo 90.73% of voting power through high-vote Class B shares. Megan later received a Nasdaq notice in May 2026 for not meeting the US$1.00 minimum bid price, starting a 180‑day cure period, and is considering options, including a possible reverse split, to regain compliance.