In This Article:
GUANGZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Highest Performances Holdings Inc. (NASDAQ: HPH) (“HPH” or the “Company”) today announced the results of its extraordinary general meeting of shareholders and separate class meeting of the holders of ordinary shares of the Company (the “Combined Meeting”) held in Guangzhou on October 31, 2024.
At the Combined Meeting, the shareholders passed the following resolutions to:
(i) change the authorized share capital of the Company FROM US$2,000,000 divided into 2,000,000,000 shares consisting of (i) 1,950,000,000 Ordinary Shares of a nominal or par value of US$0.001 each (the “Ordinary Shares”); and (ii) 50,000,000 Preference Shares of a nominal or par value of US$0.001 each (the “Preference Shares”) TO US$5,000,000 divided into 5,000,000,000 shares consisting of (i) 4,000,000,000 Class A Ordinary Shares of a nominal or par value of US$0.001 each (the “Class A Ordinary Shares”); and (ii) 1,000,000,000 Class B Ordinary Shares of a nominal or par value of US$0.001 each (the “Class B Ordinary Shares”). All of the previously issued and outstanding Ordinary Shares will be re-designated as Class A Ordinary Shares. Each Class A Ordinary Share shall have one vote per Class A Ordinary Share while each Class B Ordinary Share shall have 100 votes per Class B Ordinary Share, among other rights, preferences, privileges and restrictions as set out in the AR M&A (as defined below).
(ii) replace the existing third amended and restated memorandum and articles of association of the Company in their entirety with a new fourth amended and restated memorandum and articles of association of the Company (the “AR M&A”) to reflect, among others, the aforementioned changes; and
(iii) authorize any director of the Company (the “Director”) to take any and all action that might be necessary to effect the foregoing resolutions as such Director, in his or her absolute discretion, thinks fit.
About HPH
Founded in 2010 and formerly known as Puyi Inc., we have evolved with a vision to become a leading provider of artificial intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families worldwide by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance.
We currently hold controlling interests in two leading financial service providers in China. The first is Fanhua Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Fanhua Puyi Fund Distribution Co., Ltd., an independent wealth management service provider.