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Intercont shareholders approve $250M authorized capital increase, voting rights boost to 100 per share, and reverse split authority
NCTIntercont (Cayman) Ltd
Intercont (Cayman) Limited shareholders approved several proposals, including an increase of authorized share capital to US$250,000,000 and an increase in Class B Ordinary Share voting rights from 30 to 100 votes per share. Additionally, shareholders approved a proposal to effect a reverse share split of Class A Ordinary Shares at a ratio between 1:2 and 1:1000 at the directors' discretion within five years.