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Intercont (Cayman) Limited (NCT) clears capital hike and super-voting changes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Intercont (Cayman) Limited reported that its Class A and Class B shareholders approved several capital and governance changes at a Class A Meeting and an extraordinary general meeting. Shareholders authorized an increase in the company’s share capital to US$250,000,000, divided into 100,000,000,000 ordinary shares, split between 80,000,000,000 Class A and 20,000,000,000 Class B shares.

They also approved changing the voting rights of Class B ordinary shares from 30 votes to 100 votes per share on all matters at general meetings. In addition, shareholders conditionally adopted a third amended and restated memorandum and articles of association to reflect these changes and other clarifications.

Shareholders further authorized a reverse share split of Class A shares at a ratio between 1-for-2 and up to 1-for-1,000, to be implemented, if at all, at the directors’ discretion within five years, and approved measures to deal with fractional entitlements arising from the consolidation.

Positive

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Insights

Shareholders approved major changes to capital structure and voting power.

The company’s authorized capital now allows up to 100,000,000,000 ordinary shares, giving the board significant flexibility for future issuances. Class B voting power increases to 100 votes per share, further concentrating influence in this super-voting class.

A broad reverse share split authorization on Class A shares, ranging from 1:2 to 1:1000 over a five-year window, provides tools to adjust share price and share count. Actual impact on investors will depend on if, when and at what ratio the board implements a split and whether additional shares are later issued under the expanded authorization.

Authorised share capital US$250,000,000 Total authorised capital after increase
Authorised ordinary shares 100,000,000,000 shares Total ordinary shares of US$0.0025 par value each
Authorised Class A shares 80,000,000,000 shares Class A ordinary shares after capital increase
Authorised Class B shares 20,000,000,000 shares Class B ordinary shares after capital increase
Class B votes per share 100 votes per share New voting right, up from 30 votes per share
Class A reverse split range 1:2 to 1:1000 Approved reverse share split ratio range for Class A
Class A EGM attendance 705,163.80 shares Class A shares present at EGM, 49.047% of 1,437,740
Class B EGM attendance 206,598.04 shares Class B shares present at EGM, 100% of outstanding
Authorised Share Capital financial
"to increase the authorized share capital of the Company (the “Authorised Share Capital”) to US$250,000,000.00"
The maximum number of shares a company is legally allowed to create under its founding documents. Think of it like the size of an empty container: it sets the upper limit on how many ownership pieces the company can hand out, which matters to investors because it controls how easily a company can raise cash, dilute existing owners, or change voting power without a formal legal change.
Class B Ordinary Shares financial
"to change Class B Ordinary Share Voting Right from thirty (30) votes per one Class B Ordinary Share to one hundred (100) votes"
Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.
reverse share split financial
"to effect a reverse share split to the Company’s authorised issued and unissued Class A Ordinary Shares by way of a consolidation"
A reverse share split is when a company reduces the number of its shares outstanding by combining multiple shares into one, effectively increasing the price of each share. For investors, this can help improve the company's image or meet stock exchange listing requirements, but it does not change the total value of their investment. It’s similar to turning many small pieces of a puzzle into fewer larger pieces—nothing new is added or lost, just rearranged.
Third Amended and Restated Memorandum and Articles of Association regulatory
"to adopt by the Company of the third amended and restated articles of association of the Company (the “AR M&A”)"
fractional entitlements financial
"in respect of any fractional entitlements to the issued consolidated shares resulting from the Further Revised Reverse Share Split"
Fractional entitlements occur when a corporate action (like a dividend, stock split, rights offering or consolidation) would give a shareholder a non-whole share or security — for example, 0.5 of a share. Companies typically settle these fractions by paying a small cash amount or rounding up/down, and this matters to investors because it changes cash balances, can slightly alter ownership percentages, and may have small tax and record-keeping implications, much like receiving change after splitting a bill.
extraordinary general meeting regulatory
"the Company held an extraordinary general meeting of the shareholders of the Company (the “EGM”)"
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of June, 2026

 

Commission File Number: 001-42571

 

INTERCONT (CAYMAN) LIMITED

 

39 Ocean Drive Singapore

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒      Form 40-F ☐

 

 

 

 

 

 


On June 5, 2026, at 9:00 a.m., Eastern Time (June 5, 2026 at 9 p.m. Beijing Time), Intercont (Cayman) Limited (the “Company”) held a meeting of the holders of class A ordinary shares (the “Class A Ordinary Shares”) (the “Class A Meeting”) at 12th Floor, Building 1, 16 Bailongjiang East Street, Jianye District, Nanjing City, Jiangsu Province, China. Immediately following the Class A Meeting, the Company held an extraordinary general meeting of the shareholders of the Company (the “EGM”) (together, the “Meetings”), at the same location.

 

Holders of Class A Ordinary Shares as of the Record Date are entitled to one (1) vote for each Class A Ordinary Share for each of the proposals and holders of Class B Ordinary Shares as of the Record Date are entitled to thirty (30) votes for each Class B Ordinary Share for each of the proposals.

 

Class A Meeting

 

Holders of 702,356.90 Class A Ordinary Shares of the Company were present in person or by proxy at the Class A Meeting, representing approximately 48.851% in nominal or par value amount of the issued Class A Ordinary Shares as of the Record Date, and therefore constituting a quorum of one or more Shareholders holding or representing by proxy at least one-third of the issued and outstanding Class A Ordinary Shares entitled to vote at the Class A Meeting. The matters voted on at the Class A Meeting were approved. The final voting results for the matters submitted to a vote of shareholders at the Class A Meeting are as follows:

 

Proposal One: Increase of Class B Ordinary Shares in the Authorised Share Capital Proposal

 

    For     Against     Abstain  

Proposal 1: To increase the Authorised Share Capital of the Company to US$250,000,000.00 divided into 100,000,000,000 Ordinary Shares of par value of US$0.0025 each, comprising of (A) 80,000,000,000 Class A Ordinary Shares; and (B) 20,000,000,000 Class B Ordinary Shares (the “Increase of Share Capital”), by redesignation of:

(1) the newly increased and unissued 79,960,206,598.04 Ordinary Shares be redesignated as Class A Ordinary Shares; and

(2) the newly increased and unissued 19,999,793,401.96 Ordinary Shares be redesignated into Class B Ordinary Shares

    702,124.10       232.80       0  

 

Proposal Two: Change of Voting Rights of Class B Ordinary Shares Proposal

 

    For     Against     Abstain  
Proposal 2: following the Increase of Share Capital, to change Class B Ordinary Share Voting Right from thirty votes per one Class B Ordinary Share to one hundred votes per one Class B Ordinary Share on all matters subject to the votes at general meetings of the Company (the “Change of Voting Right of Class B Ordinary Shares”).     702,124.10       232.80       0  

 

Extraordinary General Meeting

 

Holders of 705,163.80 Class A Ordinary Shares and holders of 206,598.04 Class B Ordinary Shares of the Company were present in person or by proxy at the EGM, representing approximately 49.047% of the 1,437,740 outstanding Class A Ordinary Shares and 100% of the 206,598.04 outstanding Class B Ordinary Shares as of the Record Date, and therefore constituting a quorum of at least one-third of all votes attached to all outstanding voting shares in issue and entitled to vote at the EGM. All matters voted on at the EGM were approved. The final voting results for the matters submitted to a vote of shareholders at the EGM are as follows:

 

Proposal One: Increase of Share Capital Proposal

 

    For     Against     Abstain  

Proposal 1: to increase the authorized share capital of the Company (the “Authorised Share Capital”) to US$250,000,000.00 divided into 100,000,000,000 ordinary shares of par value of US$0.0025 each (each an “Ordinary Share”), comprising (A) 80,000,000,000 Class A Ordinary Shares of a par value of US$0.0025 each; and (B) 20,000,000,000 Class B Ordinary Shares of a par value of US$0.0025 each (the “Increase of Share Capital”), by redesignation of:

(1) the newly increased and unissued 79,960,206,598.04 Ordinary Shares be redesignated as Class A Ordinary Shares; and

(2) the newly increased and unissued 19,999,793,401.96 Ordinary Shares be redesignated into Class B Ordinary Shares.

    911,761.84       322.80       0  

 

1

 

 

Proposal Two: Change of Voting Rights of Class B Ordinary Shares Proposal

 

    For     Against     Abstain  
Proposal 2: following the Increase of Share Capital, to change Class B Ordinary Share Voting Right from thirty (30) votes per one Class B Ordinary Share to one hundred (100) votes per one Class B Ordinary Share on all matters subject to the votes at general meetings of the Company (the “Change of Voting Right of Class B Ordinary Shares”).     911,761.84       116.80       206  

 

Proposal Three: Charter Amendment Proposal

 

    For     Against     Abstain  
Proposal 3: subject to and conditional upon approval by the shareholders of Proposal No. 1 and Proposal No. 2 and all requisite class consents being obtained, to adopt by the Company of the third amended and restated articles of association of the Company (the “AR M&A”) in replacement of the second amended and restated memorandum and articles of association as adopted on January 26, 2026 (the “Existing Articles”) to reflect the Increase of Share Capital, the Change of Voting Right of Class B Ordinary Shares and other clarification changes.     911,761.84       116.80       206  

 

Proposal Four: Consolidation of Shares Proposal

 

    For     Against     Abstain  
Proposal 4: Following the Increase of Share Capital, to effect a reverse share split to the Company’s authorised issued and unissued Class A Ordinary Shares by way of a consolidation (the “Share Consolidation”) at an exchange ratio which no less than one-for-two (1:2) and no greater than one-for-one thousand (1:1000) (the “Further Revised RS Ratio”) such that the number of authorised issued and unissued Class A is decreased by the Further Revised RS Ratio and the par value of each authorised, issued and outstanding Class A is increased by the Further Revised RS Ratio (together, the “Further Revised Reverse Share Split”), with such Further Revised Reverse Share Split to be effected at such time and date, if at all, and at a precise Further Revised RS Ratio up to a maximum of one-for-one thousand (1:1000), in each case, as determined by the Directors at their discretion within a period of five years of obtaining the requisite shareholder approval for the Further Revised Reverse Share Split (the “Further Revised Effective Time”).     911,777.84       100.80       206  

 

Proposal Five: Fractional Entitlements Proposal

 

    For     Against     Abstain  
Proposal 5: in respect of any fractional entitlements to the issued consolidated shares resulting from the Further Revised Reverse Share Split, if so determined by the Directors in their sole discretion, the Directors be and are hereby authorised to settle as they consider expedient any difficulty which arises in relation to the Share Consolidation, including but without prejudice to the generality of the foregoing capitalising all or any part of any amount for the time being standing to the credit of any reserve or fund of the Company (including its share premium account and profit and loss account, to the extent as permitted by the applicable laws) whether or not the same is available for distribution and applying such sum in paying up unissued Class A Ordinary Shares to be issued to shareholders of the Company to round up any fractions of Class A Ordinary Shares issued to or registered in the name of such shareholders of the Company following or as a result of the Share Consolidation.     911,778.64       100.00       206  

 

2

 

 

A copy of the Third Amended and Restated Memorandum of Association is filed as Exhibit 3.1 to this report.

  

EXHIBIT INDEX

 

Exhibit Number   Description
3.1   Third Amended and Restated Memorandum and Article of Association

 

3

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: June 8, 2026 Intercont (Cayman) Limited
     
  By:  /s/ Muchun Zhu
    Muchun Zhu
    Chief Executive Officer

 

4

 

FAQ

What capital increase did Intercont (Cayman) Limited (NCT) shareholders approve?

Shareholders approved increasing authorised share capital to US$250,000,000, divided into 100,000,000,000 ordinary shares of US$0.0025 each, comprising 80,000,000,000 Class A shares and 20,000,000,000 Class B shares, significantly expanding potential future issuance capacity.

How did Intercont (Cayman) Limited (NCT) change Class B voting rights?

Shareholders approved raising Class B ordinary share voting rights from 30 votes per share to 100 votes per share on all matters at general meetings, increasing the relative influence of Class B holders versus Class A shareholders in company decisions.

What reverse share split authority did Intercont (Cayman) Limited (NCT) obtain?

Shareholders authorized a reverse share split of Class A shares at a ratio of at least 1-for-2 and up to 1-for-1,000, to be implemented, if at all, at the directors’ discretion within five years of receiving this approval.

What were the quorum levels at Intercont (Cayman) Limited’s June 2026 meetings?

At the Class A Meeting, holders of 702,356.90 Class A shares, about 48.851% of issued Class A shares, were present. At the EGM, 705,163.80 Class A and 206,598.04 Class B shares were represented, equaling 49.047% of Class A and 100% of Class B shares.

How will Intercont (Cayman) Limited (NCT) handle fractional shares after a reverse split?

Shareholders authorized directors to address fractional entitlements from any reverse split by methods they consider expedient, including capitalizing reserves to issue additional Class A shares to round up fractions for affected shareholders, as permitted by applicable law.

What governance document did Intercont (Cayman) Limited (NCT) adopt?

Shareholders approved adopting a Third Amended and Restated Memorandum and Articles of Association, replacing the prior articles to reflect the increased share capital, enhanced Class B voting rights, and related clarification changes. A copy is filed as Exhibit 3.1 to the report.

Filing Exhibits & Attachments

1 document