MicroAlgo Inc., a technology firm listed as MLGO on the Nasdaq, has announced its upcoming Annual General Meeting (AGM) scheduled for November 29, 2024, at its headquarters in Shenzhen, China. The notice, dated October 23, 2024, outlines several key proposals for shareholder voting. Among the proposals is a Share Consolidation plan to convert every 20 existing ordinary shares into one, aiming to comply with Nasdaq's minimum bid price requirement. Additionally, the company seeks to increase its authorized share capital from $2 million to $200 million, immediately following the Share Consolidation. Other proposals include amendments to the company's Memorandum and Articles of Association to reduce the quorum requirement and remove the two-year term limit for directors. A significant change proposed is the creation of a...Show More

MicroAlgo Inc., a technology firm listed as MLGO on the Nasdaq, has announced its upcoming Annual General Meeting (AGM) scheduled for November 29, 2024, at its headquarters in Shenzhen, China. The notice, dated October 23, 2024, outlines several key proposals for shareholder voting. Among the proposals is a Share Consolidation plan to convert every 20 existing ordinary shares into one, aiming to comply with Nasdaq's minimum bid price requirement. Additionally, the company seeks to increase its authorized share capital from $2 million to $200 million, immediately following the Share Consolidation. Other proposals include amendments to the company's Memorandum and Articles of Association to reduce the quorum requirement and remove the two-year term limit for directors. A significant change proposed is the creation of a dual-class share structure, which would re-designate shares into Class A and Class B, with Class B shares having 20 votes per share compared to one vote per Class A share. The AGM will also address the potential adjournment of the meeting if necessary to solicit additional votes for the proposed changes.