Lianhe Sowell announces approval of dual-class share structure

Lianhe Sowell (LHSW) International announced the results of the Company’s Extraordinary General of Shareholders. At the EGM, shareholders of the Company approved the proposals that: the currently issued 52,000,000 ordinary shares of the Company, par value of US$0.0001 per share, be re-designated and re-classified into Class A ordinary shares of the Company, par value of US$0.0001 per share, on a one for one basis, the remaining authorised but unissued ordinary shares of the Company, par value of US$0.0001 per share, be re-designated and re-classified into 398,000,000 Class A Ordinary Shares on a one for one basis and 50,000,000 Class B ordinary shares of the Company, par value of US$0.0001 per share, with 100 votes per share on a one for one basis, and such that the authorised share capital of the Company shall become US$50,000 divided into: 450,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; and (ii) 50,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; a new second amended and restated memorandum and articles of association of the Company be adopted to reflect the adoption of a dual-class share structure, and the provision of the rights and privileges of Class A Ordinary Shares and Class B Ordinary Shares; 400,000 Class B Ordinary Shares be issued to Lianyue Holding Limited and 600,000 Class B Ordinary Shares be issued to Patton Holding Group Limited, each at par value.