Nature Wood Group (NASDAQ: NWGL) to become CL Workshop, expand share capital
Rhea-AI Filing Summary
Nature Wood Group Limited reports that shareholders approved several major corporate changes at the annual general meeting. The company will change its name to CL Workshop Group Limited, with a new Chinese name, once the change is certified by the BVI registry.
Shareholders also approved a large share reorganization. The maximum authorized share capital will rise from 200,000,000 ordinary shares to 8,000,000,000 ordinary shares with a par value of US$0.001, split into 7,520,000,000 Class A and 480,000,000 Class B ordinary shares. Existing holdings of 132,425,321 ordinary shares will be redesignated so that TUTU Business Services Limited holds 92,932,850 Class B ordinary shares and all other shareholders hold 39,492,471 Class A ordinary shares.
The meeting further approved adoption of a second amended and restated memorandum and articles of association. The company expects the name change and share reorganization to take effect on December 29, 2025.
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Insights
Shareholders approved a new name and major share capital reorganization.
Nature Wood Group Limited obtained shareholder approval to change its name to CL Workshop Group Limited and to update its constitutional documents. A key step is replacing the existing memorandum and articles of association with a second amended and restated version, aligning them with the new name and capital structure.
The company’s authorized share capital will increase from 200,000,000 ordinary shares to 8,000,000,000 ordinary shares with par value of US$0.001. These are divided into 7,520,000,000 Class A ordinary shares and 480,000,000 Class B ordinary shares, and the existing 132,425,321 ordinary shares are being redesignated so that TUTU Business Services Limited holds 92,932,850 Class B shares while all other shareholders hold 39,492,471 Class A shares. These changes are anticipated to take effect on
FAQ
What did Nature Wood Group (NWGL) shareholders approve at the 2025 annual meeting?
Shareholders approved changing the company name to CL Workshop Group Limited with a new Chinese name, a major share capital reorganization creating Class A and Class B ordinary shares, and the adoption of a second amended and restated memorandum and articles of association, along with related filings with the BVI registry.
What new name will Nature Wood Group (NWGL) adopt?
The company will change its English name from Nature Wood Group Limited to CL Workshop Group Limited. Its foreign name will change from 大自然林業集團有限公司 to 刺梨工坊公司, with the English name prevailing in case of inconsistency.
How is NWGL changing its authorized share capital structure?
The maximum number of shares the company is authorized to issue will increase from 200,000,000 ordinary shares of a single class to 8,000,000,000 ordinary shares with a par value of US$0.001. These are divided into 7,520,000,000 Class A ordinary shares and 480,000,000 Class B ordinary shares.
How will existing Nature Wood Group (NWGL) shares be reclassified?
Existing holdings of 132,425,321 ordinary shares will be redesignated. TUTU Business Services Limited will hold 92,932,850 Class B ordinary shares, and all other shareholders together will hold 39,492,471 Class A ordinary shares.
When will the name change and share reorganization for NWGL take effect?
The company states that the Change of Company Name and the Share Reorganization are anticipated to take effect on December 29, 2025, following certification and required filings with the BVI Registry.
What corporate documents did NWGL shareholders approve replacing?
Shareholders approved adopting the Second Amended and Restated Memorandum and Articles of Association in substitution for, and to the exclusion of, the existing amended and restated memorandum and articles of association. The registered agent is authorized to file the necessary amendments with the BVI Registry.
What role does the BVI Registry play in NWGLs changes?
The companys registered agent is authorized to file applications and notices of amendment with the BVI Registry to certify the name change, effect the share reorganization, and register the Second Amended and Restated Memorandum and Articles of Association.