Summary by Futu AI
Baker Microelectronics Co., Ltd. (the “Company”) announced on May 27, 2024 that its Board of Directors has adopted a resolution to propose amendments to the Company's Articles of Association. The amendments include increasing the registered capital from RMB 4,500 million to RMB 6,000 million, the total number of shares from 4,500 million shares to 6,000 million shares and reducing the number of Board members from 9 to 8. In addition, in the event of an initial public offering of H shares on the HKEX and exercising the overallotment option after listing, the company's share capital structure will be adjusted to 6,225 million shares of ordinary shares. The proposed amendment is subject to the approval of the special resolution at the annual general meeting and authorises management to conduct business registration matters within 12 months of the approval of the annual general meeting. The Circular of the Annual General Meeting will contain revised details and be published and/or mailed to shareholders in due course.