Decent Holding announces approval of dual-class structure

Decent Holding (DXST) announced the adoption of a special resolution to reclassify its authorized share capital and implement updated governance provisions, effective immediately. Under the resolution, the Company has adopted change in the authorized share capital of $50,000 divided into 500,000,000 shares of a par value of $0.0001 each by: re-classifying all 16,250,000 Ordinary Shares issued and outstanding including 8,026,000 Ordinary Shares issued and outstanding held by Decent Limited into class A ordinary shares with a par value of $0.0001 each, each having one vote per share and with other rights attached to it in the Second Amended and Restated Memorandum and Articles of Association on a one for one basis; re-designating 5,000,000 Ordinary Shares issued and outstanding held by Decent Limited into 5,000,000 class B ordinary shares with a par value of $0.0001 each, each having twenty votes per share and with other rights attached to it in the Second Amended and Restated Memorandum and Articles of Association on a one for one basis; and re-designating the 483,750,000 remaining authorized but unissued Ordinary Shares into Class A Ordinary Shares on a one for one basis. Upon the Re-designations, the authorized share capital of the Company is $50,000 divided into 500,000,000 shares of a par value of $0.0001 each, comprising of 495,000,000 Class A Ordinary Shares, and 5,000,000 Class B Ordinary Shares. Concurrently, the Company adopted its Second Amended and Restated Memorandum and Articles of Association, formalizing the rights, conversion mechanisms, and governance frameworks for the new share structure. These updates aim to enhance governance flexibility, streamline voting procedures, director appointments and shareholder communications while maintaining equitable economic rights for all shareholders.