Lichen China Limited's 6-K Report: Major Changes Ahead!
Key Information Extracted from Lichen China Limited's 6-K Filing
Company Profile
- Name: Lichen China Limited
- Address: 15th Floor, Xingang Square, Hubin North Road, Siming District, Xiamen City, Fujian Province, China, 361013
- Commission File No: 001-41493
Annual Meeting of Shareholders
- Date and Time: February 10, 2025, at 09:00 PM China Time (08:00 AM Eastern Time).
- Quorum:
- Class A Ordinary Shares: 1,893,052 shares present, representing 2.9% of voting power.
- Class B Ordinary Shares: 9,000,000 shares present, representing 100% of voting power.
- Voting Power: Class B shares carry 10 votes per share.
Resolutions Approved
- Share Capital Increase:
- Authorized share capital increased from $50,000 to $1,000,000.
- Additional shares created: 19,000,000,000 Class A and 4,750,000,000 Class B ordinary shares.
- Share Consolidation:
- Approved consolidation at a ratio between 1-for-20 and 1-for-200, with the exact ratio to be determined by the Board.
- Amendment to Memorandum and Articles:
- Amendments approved to reflect the share capital increase and consolidation.
- Change of Company Name:
- Change from "Lichen China Limited" to "Lichen International Limited."
- Amendment of Articles of Association:
- Article 62 amended to allow for electronic and telephonic voting.
- Adjournment of Meeting:
- Approved adjournment if necessary to further solicit votes for the proposed resolutions.
Voting Results Summary
- Proposal #1 (Share Capital Increase):
- For: 99.33%, Against: 0.66%
- Proposal #2 (Share Consolidation):
- For: 99.35%, Against: 0.64%
- Proposal #3 (Adoption of New Memorandum):
- For: 99.31%, Against: 0.66%
- Proposal #4 (Adoption of New Articles for Share Consolidation):
- For: 99.34%, Against: 0.65%
- Proposal #5 (Change of Name):
- For: 99.64%, Against: 0.35%
- Proposal #6 (Amendment of Articles):
- For: 99.36%, Against: 0.63%
- Proposal #7 (Adjournment):
- For: 99.21%, Against: 0.78%
Additional Notes
- The Amended and Restated Memorandum and Articles of Association filed as Exhibit 3.1.
- The report is signed by Ya Li, Chief Executive Officer, on February 12, 2025.
Summary Insights
- The company is undergoing significant structural changes including a large increase in authorized share capital and a name change, which may indicate a strategic shift to expand operations or enhance market presence.
- Strong support from shareholders is evident, with proposals receiving overwhelming approval rates, suggesting a united front towards the company's future direction.
This filing is crucial as it reflects Lichen China Limited's governance and strategic decisions moving forward.