Summary by Moomoo AI
E-Home Household Service announced an Extraordinary General Meeting to be held on November 26, 2024, seeking shareholder approval for a major capital reorganization. The proposed changes include reducing the par value of ordinary shares from US$10.00 to US$0.001 and subdividing authorized but unissued shares.The capital restructuring will maintain the total authorized share capital at US$1,000,020,000 but change its composition to 1 trillion ordinary shares at US$0.001 par value and 10 million preferred shares at US$0.002 par value. The credit arising from the capital reduction will be used to offset accumulated losses and create distributable reserves.The reorganization aims to provide greater flexibility for future corporate actions, including potential dividend distributions and share price management to maintain Nasdaq listing requirements. The implementation requires court approval from the Cayman Islands and registration with local authorities.
