High-Trend International shareholders approve governance changes

High-Trend International Group (NASDAQ: HTCO) announced that Class A shareholders approved corporate governance measures at an extraordinary general meeting held May 7, 2026.

The ocean transportation company said shareholders approved increasing voting rights for Class B ordinary shares from 20 votes to 100 votes per share on all matters subject to shareholder votes.

Shareholders also approved expanding authorized share capital from $1.25 million to $5.28 million. The approval increases authorized Class A ordinary shares from 489.9 million to 2 billion shares and Class B ordinary shares from 10.1 million to 110.1 million shares.

The company received authorization for the board of directors to consolidate outstanding Class A ordinary shares at any time during a two-year period, with a maximum consolidation ratio of 1,000-to-1. The board retains discretion over whether to implement consolidation and the specific ratio and timing.

Shareholders approved the Fourth Amended and Restated Memorandum and Articles of Association, which incorporates the approved changes and establishes that certain major corporate actions require prior written consent from the majority of Class B ordinary share holders.

"The enhanced governance framework and expanded capital structure provide the Company with greater strategic flexibility to pursue growth initiatives, strengthen our balance sheet, and create long-term value for all stakeholders," said Christopher Nixon Cox, the company's chairman.

High-Trend International Group operates as a global ocean transportation company with businesses in international shipping.

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