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Shareholders of Ostin Technology Group Co., Ltd. (NASDAQ:OST) approved a 1-for-25 share consolidation at an extraordinary general meeting held Thursday in Nanjing, China, according to a press release statement based on a U.S. Securities and Exchange Commission filing.
The meeting saw 107,407,464 ordinary shares voted, representing 53.05% of the company’s outstanding shares as of July 1, 2025. The first proposal, which passed with 98.88% of votes cast in favor, authorized consolidating the company’s authorized share capital such that every twenty-five shares will be consolidated into one share. Following the consolidation, the authorized share capital of $10,000,000 will be divided into 399,280,000 Class A ordinary shares, 640,000 Class B ordinary shares, and 80,000 preference shares, each with a par value of $0.025.
Shareholders also approved, by special resolution, the adoption of the fifth amended and restated memorandum and articles of association to reflect the share consolidation. This proposal passed with 98.89% of votes cast in favor. The company’s board was authorized to address any fractional shares resulting from the consolidation, including rounding up to the nearest whole share or using reserves to pay up unissued shares for rounding.
A third proposal, which allows the meeting to be adjourned at the chairman’s discretion to solicit additional proxies if necessary, was also approved, with 98.90% of votes in favor.
Ostin Technology Group is an electronic components manufacturer incorporated in the Cayman Islands and headquartered in Nanjing, Jiangsu Province, China. The company’s Class A ordinary shares trade on the NASDAQ under the ticker OST.
All information is based on a press release statement and the company’s filing with the U.S. Securities and Exchange Commission.
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