Starbox Group Holdings Ltd. February 2025 Financial Report: Share Consolidation Approved!

Here are the key insights extracted from the financial report (Form 6-K) of Starbox Group Holdings Ltd. for February 2025:

1. Company Information:

• Name: Starbox Group Holdings Ltd.
• Principal Office Address: VO2-03-07, Velocity Office 2, Lingkaran SV, Sunway Velocity, 55100 Kuala Lumpur, Malaysia.
• Commission File Number: 001-41480.

2. Extraordinary General Meeting:

• Date of Meeting: February 20, 2025, at 8:30 AM Eastern Time.
• Votes Present: A total of 93,313,626 votes, representing 69.34% of the votes exercisable as of the record date (January 31, 2025).

3. Shareholder Resolutions Approved:

• The shareholders approved a resolution to consolidate the company's shares on a 10:1 basis:
• • Class A Ordinary Shares: From 543,875,000 shares of $0.018 par value to 54,387,500 shares of $0.18 par value.
  • Class B Ordinary Shares: From 8,000,000 shares of $0.018 par value to 800,000 shares of $0.18 par value.
  • Preferred Shares: From 3,125,000 shares of $0.018 par value to 312,500 shares of $0.18 par value.

4. Voting Results for Resolution No. 1:

• For: 93,010,235 votes.
• Against: 301,664 votes.
• Abstain: 1,727 votes.

5. Signatory:

• The report is signed by Lee Choon Wooi, Chief Executive Officer of Starbox Group Holdings Ltd., on February 20, 2025.

Summary:

Starbox Group Holdings Ltd. held an extraordinary general meeting where shareholders approved a significant consolidation of shares, reflecting a strategic decision to reduce the number of shares in circulation while increasing the par value per share. The approval received overwhelming support, indicating confidence among shareholders regarding this corporate action.