Nanjing, China, Nov. 27, 2024 — Ostin Technology Group Co., Ltd. (“the Company”) (Nasdaq: OST), a leading Chinese supplier of display modules and polarizers, reported the outcomes of its Extraordinary General Meeting, held November 26, 2024, at 10:00 a.m. Beijing Time (9:00 p.m. U.S. Eastern Time) at its Nanjing headquarters.
Shareholders:
- Approved Audit Alliance LLP as the Company’s independent auditor for the fiscal year ending September 30, 2024, authorizing the Board/Audit Committee to determine their compensation.
- Approved a share consolidation of one (1) for ten (10), resulting in a revised authorized share capital of US$500,000, comprising 4,991,000,000 Class A ordinary shares, 8,000,000 Class B ordinary shares, and 1,000,000 preference shares, each with a par value of US$0.0001. They authorized the transfer agent and registrar to update company records and the registered office provider to file necessary documents with the Cayman Islands Registrar of Companies.
- Adopted the Third Amended and Restated Memorandum and Articles of Association, replacing the Second Amended and Restated version, to reflect the share consolidation. The registered office provider was authorized to file the necessary paperwork with the Cayman Islands Registrar of Companies. The Board received authority to resolve any fractional share issues arising from the consolidation, including rounding up fractional shares to the nearest whole share and/or capitalizing reserves to cover fractional shares.
About Ostin Technology Group Co., Ltd.
Established in 2010, the Company supplies display modules and polarizers in China. It designs, develops, and manufactures TFT-LCD display modules in various sizes, primarily for consumer electronics, outdoor LCD displays, and automotive applications. The Company also produces polarizers for these modules.
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Forward-Looking Statement
This release includes forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements concern plans, objectives, goals, strategies, future events or performance, and assumptions, and are not historical facts. Words like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” and “estimate” (unless relating solely to historical matters) indicate forward-looking statements. These statements are not guarantees and involve risks and uncertainties that could significantly alter actual results. These risks include: the Company’s goals and strategies; market trend forecasts; future business development; demand and market acceptance for new products; receiving customer orders; new product marketing and sales timing; technological changes; attracting and retaining skilled employees; client concentration; general economic conditions; and other risks detailed in SEC filings. Investors should not over rely on these statements. Additional factors are discussed in SEC filings, available at . The Company assumes no obligation to update these statements.
For more information, please contact:
Ostin Technology Group Co., Ltd.
Investor Relations:
Janice Wang
Wealth Financial Services LLC
Phone: +86 13811768599 +1 628 283 9214
Email:
