Summary by Moomoo AI
WeBuy Global will hold its Annual General Meeting on December 18, 2024, where shareholders will vote on four key proposals. The most significant proposal involves a share consolidation plan at a ratio between 1:10 and 1:40, aimed at maintaining Nasdaq listing compliance by meeting the minimum $1.00 bid price requirement.The meeting agenda includes the re-appointment of five directors, including CEO Bin Xue and COO Michelle Tan, and the appointment of OneStop Assurance PAC as the independent auditor for FY2025. The share consolidation, if approved, will affect both Class A and Class B ordinary shares, with the exact ratio to be determined by the Board within one year.The Board believes the share consolidation is crucial to prevent potential delisting from Nasdaq, which could impact stock liquidity and institutional investor interest. While acknowledging potential risks such as post-consolidation price decline and reduced liquidity, the Board considers maintaining Nasdaq listing essential for the company's long-term interests.
