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TuanChe Limited's AGM Highlights: Key Changes & Strategic Decisions Revealed

$TC
Form 6-K
Filed on: 2025-02-10
Source
TuanChe Limited's AGM Highlights: Key Changes & Strategic Decisions Revealed

Here are the key insights and information extracted from the financial report of TuanChe Limited (Form 6-K):

General Information

  • Company Name: TuanChe Limited
  • Address: 9F, Ruihai Building, No. 21 Yangfangdian Road, Haidian District, Beijing, 100038, People's Republic of China.
  • Report Date: February 10, 2025

Annual General Meeting Highlights

  • Meeting Date: February 10, 2025
  • Record Date: January 10, 2025
  • Total Shares Outstanding:
  • Class A Ordinary Shares: 705,829,791 (1 vote each)
  • Class B Ordinary Shares: 55,260,580 (15 votes each)
  • Quorum: Approximately 61.44% of votes were present.

Proposals Voted On

The following proposals were presented and passed at the AGM:

  1. Re-election of Directors:
  • Wei Wen
  • Guangsheng Liu
  • Jintao Lin
  • Wentao Deng
  • Yicheng Yang
  • All re-elected for the next annual general meeting.
  1. Ratification of Public Accounting Firm:
  • JWF Assurance PAC was ratified as the independent registered public accounting firm for the fiscal year ended December 31, 2024.
  1. Approval of 2024 Equity Incentive Plan:
  • The 2024 equity incentive plan was approved.
  1. Increase of Authorized Share Capital:
  • Increase from US$100,000 to US$3,000,000 with a new share structure allowing for a total of 30 billion shares.
  1. Name Change:
  • The company will change its name from "TuanChe Limited" to "Token Cat Limited".
  1. Amendment of Memorandum and Articles of Association:
  • The seventh amended and restated memorandum and articles of association will be amended and restated.

Voting Results (Selected Proposals)

  • Proposal 1 (Re-election of Wei Wen):
  • For: 900,656,920
  • Against: 447,600
  • Abstain: 41,791,235
  • Proposal 6 (Ratification of Public Accounting Firm):
  • For: 901,651,000
  • Against: 393,120
  • Abstain: 40,611,635
  • Proposal 9 (Name Change):
  • For: 896,081,005
  • Against: 5,963,115
  • Abstain: 40,851,635

Conclusion

The AGM highlighted substantial governance and structural changes for TuanChe Limited, including the re-election of key directors and a significant increase in authorized share capital. The name change to "Token Cat Limited" suggests a strategic pivot or rebranding effort. The approval of the equity incentive plan indicates a focus on aligning employee incentives with shareholder interests. Overall, these maneuvers reflect the company's ongoing efforts to enhance its operational framework and future growth potential.