Summary by Moomoo AI
MicroAlgo Inc., a technology firm listed on The Nasdaq Capital Market under the symbol MLGO.US, has announced an Extraordinary General Meeting (EGM) to be held on March 15, 2024. The EGM will take place at the company's headquarters in Shenzhen, China, and will address two key proposals. The first proposal is a share consolidation, which will see every ten existing ordinary shares of nominal value US$0.001 each consolidated into one share of nominal value US$0.01 each. This measure aims to comply with Nasdaq's minimum bid price requirement and enhance the company's ability to maintain its listing. The second proposal, contingent on the first's approval, is to increase the authorized share capital from US$200,000 divided into 20,000,000 shares to US$2,000,000 divided into 200,000,000 shares. Shareholders of record as of February 14, 2024, are entitled to vote at the EGM. The company's CEO, Min Shu, has signed off on the report, which was filed with the SEC as a Form 6-K for February 2024.