OFA Group held its annual meeting of shareholders on October 5, 2026, where a series of proposals regarding the company's share structure were approved by a significant majority of votes. As of the record date of September 17, 2026, the company reported 6,453,481 Class A ordinary shares and 20,000,000 Class B ordinary shares issued and outstanding.
The shareholders approved a proposal to immediately effect a 10-for-1 consolidation of all authorized but undesignated and unissued shares. Following this consolidation, the company approved an increase to its authorized share capital. The meeting also authorized the Board to implement one or more share consolidations of issued and outstanding Class A ordinary shares between the date of the meeting and the next annual general meeting, provided the cumulative ratio does not fall below 2-for-1 or exceed 25-for-1.
Additionally, the meeting approved the ratification of M&K CPAS, PLLC as the company's independent registered public accounting firm for the fiscal year ending March 31, 2027. The meeting also addressed the issuance of Class A ordinary shares pursuant to a purchase agreement with Atsion Opportunity Fund LLC – Series 1, which allows the company to sell up to $100,000,000 of shares over a 36-month term.
Finally, the shareholders approved the re-election of six directors to the Board: Larry Wong, Keith Chong, John Chiang, Andrew Scott, Erwin Baquiran Pineda, and Yan Xu, whose terms will expire at the 2027 annual meeting.
