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Shareholders approve share consolidation and buyback authorization
PMECPrimech Holdings Ltd
Primech Holdings Ltd shareholders approved a resolution to consolidate every 200 ordinary shares into one, with the board retaining discretion to adjust the ratio down to two shares. The company also received authority to repurchase up to 20% of its issued ordinary shares on Nasdaq at prices not exceeding the highest independent bid or last transaction price. Additionally, shareholders authorized the issuance of Class B Preference Shares equivalent to 10% of outstanding ordinary shares to CEO Kin Wai Ho and approved routine director re-elections and auditor appointments. Primech Holdings Ltd operates in the healthcare sector, providing medical device distribution and related services.