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Elong Power shareholders approve continuation from Cayman Islands to British Virgin Islands
ELPWElong Power Holding Ltd.
Shareholders approved a special resolution to deregister the company as a Cayman Islands exempted company and continue it into the British Virgin Islands as a BVI business company. The transaction is subject to necessary governmental and regulatory consents. Upon completion, Class A ordinary shares will be re-designated on a one-for-one basis for newly issued class A ordinary shares of no par value in the BVI Company, and Class B ordinary shares will similarly be re-designated for newly issued class B ordinary shares of no par value. The company's memorandum and articles of association will be amended to comply with BVI laws. Elong Power Holding Limited operates in the power industry.