Summary by Moomoo AI
Jin Medical International Ltd., a foreign private issuer, has filed a report with the United States Securities and Exchange Commission (SEC) for the month of February 2024. The report details the proceedings of an extraordinary general meeting (EGM) held on January 30, 2024, Beijing Time, which corresponds to January 29, 2024, Eastern Time. During the EGM, shareholders representing approximately 79.65% of Jin Medical's total outstanding ordinary shares voted on a proposal to subdivide each existing ordinary share into twenty shares, effectively reducing the par value from US$0.001 to US$0.00005 each. The subdivision is set to take effect by March 31, 2024, as determined by the company's directors. The proposal was overwhelmingly approved with 6,234,204 votes in favor, 118 against, and no abstentions. This move will increase the authorized share capital to 1,000,000,000 shares at the new par value, aligning with the company's growth strategy.