Maxeon Solar Technologies will hold its Annual General Meeting (AGM) on August 29, 2024, at 9:00 p.m. Singapore time via electronic means. Key agenda items include re-electing David Li as director, reappointing Ernst & Young as auditors, and granting authority to issue shares.The company seeks approval for two share buyback mandates: the FPTC Share Buyback and MLI Share Buyback, both subject to a 20% aggregate limit of total shares. These are related to previously entered derivative transactions facilitating hedging for convertible note holders.Notably, Maxeon proposes a share consolidation, combining every 100 existing shares into 1 consolidated share. This move aims to fulfill obligations under a recent Securities Purchase Agreement and comply with NASDAQ's minimum bid requirement. The consolidation would reduce Maxeon's share count from approximately 552.5 million to 5.5 million, with fractional shares to be aggregated and sold.

Maxeon Solar Technologies will hold its Annual General Meeting (AGM) on August 29, 2024, at 9:00 p.m. Singapore time via electronic means. Key agenda items include re-electing David Li as director, reappointing Ernst & Young as auditors, and granting authority to issue shares.The company seeks approval for two share buyback mandates: the FPTC Share Buyback and MLI Share Buyback, both subject to a 20% aggregate limit of total shares. These are related to previously entered derivative transactions facilitating hedging for convertible note holders.Notably, Maxeon proposes a share consolidation, combining every 100 existing shares into 1 consolidated share. This move aims to fulfill obligations under a recent Securities Purchase Agreement and comply with NASDAQ's minimum bid requirement. The consolidation would reduce Maxeon's share count from approximately 552.5 million to 5.5 million, with fractional shares to be aggregated and sold.