Davis Commodities Limited Announces Results of Extraordinary General Meeting

Core Viewpoint - Davis Commodities Limited has successfully passed several resolutions at its Extraordinary General Meeting, including the reclassification of its share capital and the adoption of amended articles of association [1][2]. Group 1: Share Capital Alteration - The authorized share capital of the Company is reclassified to US$100,000.11, divided into 232,500,000,000 ordinary shares with a par value of US$0.000000430108 each [1]. - Existing ordinary shares held by shareholders will be re-designated as Class A and Class B ordinary shares, with specific shares held by Davis & KT Holdings Pte. Ltd. and Mr. Lek Pow Sheng, Pauson being classified as Class B [1]. - The total authorized but unissued shares will be reclassified into Class A and Class B ordinary shares, resulting in 232,480,000,000 Class A and 20,000,000 Class B ordinary shares [1]. Group 2: Adoption of Amended Memorandum and Articles - The Company has adopted a third amended and restated memorandum and articles of association, replacing the existing documents [2]. Group 3: Meeting Authorization - The Extraordinary General Meeting has the authority to adjourn if necessary to solicit additional proxies for the approval of the proposed resolutions [3]. Group 4: Company Overview - Davis Commodities Limited is an agricultural commodity trading company based in Singapore, specializing in sugar, rice, and oil and fat products across various markets including Asia, Africa, and the Middle East [4]. - The Company operates under two main brands, Maxwill and Taffy, and provides complementary services such as warehouse handling, storage, and logistics [5]. - As of the fiscal year ended December 31, 2024, the Company distributes its products to customers in over 20 countries through a global network of third-party suppliers and logistics providers [5].