STOCK TITAN

Uni-Fuels shifts to Cayman rules on governance

UFG is adopting Cayman Islands home country governance practices in place of key Nasdaq shareholder approval, meeting, proxy, and disclosure rules.

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Uni-Fuels Holdings Limited (UFG) has elected to follow Cayman Islands home country corporate governance practices instead of certain Nasdaq listing rules. This choice mainly affects how and when shareholder meetings are held, proxy solicitation, and when shareholder approval is required for specific share issuances and compensation plans.

The company will not follow several Nasdaq rules, including requirements to hold an annual shareholder meeting within one year of fiscal year-end, to solicit and file proxies for all shareholder meetings, and to obtain shareholder approval for certain acquisitions, potential changes of control, 20% share issuances below the Minimum Price, and most equity compensation plans. It is also opting out of specific Nasdaq disclosure and annual report distribution practices. Uni-Fuels states that its approach is permitted under Cayman Islands law and its current memorandum and articles of association.

Positive

  • None.

Negative

  • None.
Ownership threshold for substantial shareholder interest 5% Interest threshold in a company or assets under Nasdaq Rule 5635(a)(2)
Collective substantial shareholder interest threshold 10% Combined interest threshold for directors, officers, or substantial shareholders in Rule 5635(a)(2)
Voting power or shares for acquisition-related issuance 20% Threshold for share or voting power issuance in acquisitions under Rule 5635(a)(1)
Increase in outstanding shares or voting power 5% Threshold for issuance impact when insiders have interests under Rule 5635(a)(2)
20% Issuance threshold 20% Sale or potential issuance of common stock or voting power under Rule 5635(d)
home country practice regulatory
"it has elected to follow Cayman Islands home country practice in lieu of"
Nasdaq Marketplace Rule 5635(a) regulatory
"Nasdaq Marketplace Rule 5635(a), which requires that shareholder approval"
20% Issuance regulatory
"Nasdaq Marketplace Rule 5635(d), which requires that shareholder approval is required prior to a 20% Issuance"
Minimum Price financial
"prior to a 20% Issuance at a price that is less than the Minimum Price"
The minimum price is the lowest allowable or acceptable price at which a security, share offering, product, or sale can be bought or sold. Think of it like the smallest tag on a store item that the seller will accept; for investors it sets a floor for entry or sale, affects potential returns and liquidity, and can influence demand by limiting purchases below that level.
Regulation 14A or 14C regulatory
"in accordance with this rule by no later than the date on which the company files or furnishes a proxy or information statement subject to Regulation 14A or 14C"
Cayman Islands exempted company regulatory
"the Company), a Cayman Islands exempted company, is furnishing this current report"
A Cayman Islands exempted company is a legal entity incorporated under Cayman Islands law that is set up to do business mainly outside the islands; it offers flexible rules, limited local reporting and tax neutrality. For investors, it matters because the company’s legal protections, shareholder rights, disclosure requirements and tax treatment follow Cayman law rather than the investor’s home jurisdiction, which can affect governance, transparency and how easy it is to enforce claims—think of it like a car registered in another state for legal and tax reasons.

FAQ

What did Uni-Fuels Holdings (UFG) announce in this Form 6-K?

Uni-Fuels Holdings elected to follow Cayman Islands home country governance practices instead of certain Nasdaq rules. This affects requirements for annual meetings, proxy solicitation, shareholder approvals for specific share issuances, and some disclosure and reporting practices.

Which Nasdaq annual meeting and proxy rules is UFG not following?

UFG is not following Nasdaq Rules 5620(a), which requires an annual shareholder meeting within one year of fiscal year-end, and 5620(b), which requires companies to solicit proxies, provide proxy statements for all shareholder meetings, and furnish those proxy materials to Nasdaq.

How is UFG changing shareholder approval requirements for share issuances?

UFG is opting out of Nasdaq Rules 5635(a), 5635(b), 5635(c), and 5635(d), which require shareholder approval for certain acquisitions, changes of control, equity compensation plans, and 20% Issuances below the defined Minimum Price, relying instead on Cayman home country practice.

What is the 20% Issuance concept mentioned for UFG (UFG)?

A 20% Issuance is defined as a transaction involving the sale or potential issuance of common stock (or equivalents) equal to 20% or more of outstanding common stock or voting power before the issuance, other than a qualifying public offering, including certain sales by officers, directors, or substantial shareholders.

How is UFG handling annual reports and disclosure under Nasdaq rules?

UFG is not following Nasdaq Rules 5250(b)(3) and 5250(d), which require disclosure of certain agreements by specified SEC filing dates and the distribution of annual and interim reports with audited financial statements to shareholders within a set timeframe after SEC filings.

Is UFG’s home country governance approach allowed under Cayman law?

Yes. UFG states that its home country governance practices regarding the Nasdaq rules described are not prohibited by any Cayman Islands statutory provisions or by its amended and restated memorandum and articles of association currently in effect.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2026

 

Commission File Number: 001-42469

 

Uni-Fuels Holdings Limited

(Registrant’s Name)

 

9 Temasek Boulevard, Suntec Tower 2 #19-03

Singapore 038989

(Address of Principal Executive Offices)

 

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

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 
 

 

Application of Home Country Practice Rules

 

Uni-Fuels Holdings Limited (Nasdaq: UFG) (the “Company”), a Cayman Islands exempted company, is furnishing this current report to disclose that it has elected to follow Cayman Islands home country practice in lieu of certain corporate governance practices of the listing rules of Nasdaq (the “Rules”) below:

 

1. Nasdaq Marketplace Rule 5620(a), which requires that each company listing common stock or voting preferred stock, and their equivalents, shall hold an annual meeting of shareholders within one year of the end of each of the company’s fiscal year.

 

2. Nasdaq Marketplace Rule 5620(b), which requires that each company that is not a limited partnership shall solicit proxies and provide proxy statements for all meetings of shareholders and shall provide copies of such proxy solicitation to Nasdaq.

 

3. Nasdaq Marketplace Rule 5635(a), which requires that shareholder approval is required prior to the issuance of securities in connection with the acquisition of the stock or assets of another company if: (1) where, due to the present or potential issuance of common stock, including shares issued pursuant to an earn-out provision or similar type of provision, or securities convertible into or exercisable for common stock, other than a public offering for cash: (A) the common stock has or will have upon issuance voting power equal to or in excess of 20% of the voting power outstanding before the issuance of stock or securities convertible into or exercisable for common stock; or (B) the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities; or (2) any director, officer or substantial shareholder (as defined by Rule 5635(e)(3)) of the company has a 5% or greater interest (or such persons collectively have a 10% or greater interest), directly or indirectly, in the company or assets to be acquired or in the consideration to be paid in the transaction or series of related transactions and the present or potential issuance of common stock, or securities convertible into or exercisable for common stock, could result in an increase in outstanding common shares or voting power of 5% or more.

 

4. Nasdaq Marketplace Rule 5635(b), which requires that shareholder approval is required prior to the issuance of securities when the issuance or potential issuance will result in a change of control of the company.

 

5. Nasdaq Marketplace Rule 5635(c), which requires that shareholder approval is required prior to the issuance of securities when a stock option or purchase plan is to be established or materially amended or other equity compensation arrangement made or materially amended, pursuant to which stock may be acquired by officers, directors, employees, or consultants, except for: (1) warrants or rights issued generally to all security holders of the company or stock purchase plans available on equal terms to all security holders of the company (such as a typical dividend reinvestment plan); (2) tax qualified, non-discriminatory employee benefit plans (e.g., plans that meet the requirements of Section 401(a) or 423 of the Internal Revenue Code) or parallel nonqualified plans, provided such plans are approved by the company’s independent compensation committee or a majority of the company’s independent directors; or plans that merely provide a convenient way to purchase shares on the open market or from the company at Market Value; (3) plans or arrangements relating to an acquisition or merger as permitted under IM-5635-1; or (4) issuances to a person not previously an employee or director of the company, or following a bona fide period of non-employment, as an inducement material to the individual’s entering into employment with the company, provided such issuances are approved by either the company’s independent compensation committee or a majority of the company’s independent directors. Promptly following an issuance of any employment inducement grant in reliance on this exception, a company must disclose in a press release the material terms of the grant, including the recipient(s) of the grant and the number of shares involved.

 

6. Nasdaq Marketplace Rule 5635(d), which requires that shareholder approval is required prior to a 20% Issuance at a price that is less than the Minimum Price. (A) “Minimum Price” means a price that is the lower of: (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the signing of the binding agreement; or (ii) the average Nasdaq Official Closing Price of the common stock (as reflected on Nasdaq.com) for the five trading days immediately preceding the signing of the binding agreement. (B) “20% Issuance” means a transaction, other than a public offering as defined in IM-5635-3, involving the sale, issuance or potential issuance by the Company of common stock (or securities convertible into or exercisable for common stock), which alone or together with sales by officers, directors or Substantial Shareholders of the Company, equals 20% or more of the common stock or 20% or more of the voting power outstanding before the issuance.

 

7. Nasdaq Marketplace Rule 5250(b)(3), which requires that companies must disclose all agreements and arrangements in accordance with this rule by no later than the date on which the company files or furnishes a proxy or information statement subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 in connection with the company’s next shareholders’ meeting at which directors are elected (or, if they do not file proxy or information statements, no later than when the company files its next Form 10-K or Form 20-F).

 

8. Nasdaq Marketplace Rule 5250(d), which requires among others that each company (including a limited partnership) shall make available to shareholders an annual report containing audited financial statements of the company and its subsidiaries (which, for example, may be on Form 10-K, 20-F, 40-F or N-CSR) within a reasonable period of time following the filing of the annual report with the Securities and Exchange Commission (the “SEC”); Nasdaq companies that distribute interim reports to shareholders should distribute such reports to both registered and beneficial shareholders.

 

The Company’s practices with regard to these requirements are not prohibited under any statutory legal provision of the Cayman Islands or the amended and restated memorandum and articles of association of the Company as currently in effect.

 

 
 

 

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.

 

  UNI-FUELS HOLDINGS LIMITED
   

 

Date: September 4, 2026 By: /s/ Koh Kuan Hua
  Name: Koh Kuan Hua
  Title: Chief Executive Officer

 

 

 

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