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FBS Global seeks shareholder approval for name change to Lumeforta Group Limited and dual-class capital restructuring
FBGLFBS Global Ltd
FBS Global Limited filed a 6-K announcing an extraordinary general meeting on November 30, 2026, to vote on three proposals. Shareholders are asked to approve changing the company's name to Lumeforta Group Limited and increasing authorized share capital from US$500,000 to US$100,000,000 divided into Class A Ordinary Shares, Class B Ordinary Shares, and Preferred Shares. The restructuring establishes a dual-class voting system where CEO Kelvin Ang's shares become Class B shares carrying 50 votes each, consolidating approximately 98% of total voting power in his hands while holding only about 51% of economic ownership. Additionally, shareholders are granting the board pre-approval to implement a 20-for-1 reverse share split if the stock price remains below $1.00 for eight consecutive trading days. FBS Global Limited operates as a global provider of financial technology and data services.