Company: MEGL
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001641172-25-016831
Chunk: 84

Company: Magic Empire Global Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 84
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Our ordinary shares consist of Class A ordinary shares, Class B ordinary shares and non-voting ordinary shares. Based on our dual-class voting structure, a holder of Class A ordinary shares is entitled to one (1) vote per share in respect of matters requiring the votes of shareholders, while a holder of Class B ordinary shares is entitled to twenty (20) votes per share. The holders of our Class B ordinary shares are Mr. Wai Ho Chan and Mr. Sze Hon Johnson Chen who will beneficially own 33.3% and 22.1%, respectively, of the voting power of our Company immediately after the completion of this offering.

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As of the date of this prospectus, our directors and officers hold in aggregate approximately 52.1% of our total issued and outstanding ordinary shares, representing 89.9% or more of voting power of our Company. After this offering, our directors and officers will hold in aggregate approximately 13.1% of our total issued and outstanding ordinary shares, representing 55.4% or more of voting power of our Company. These shareholders, if they act together, will be able to control the management and affairs of our Company and most matters requiring shareholder approval, such as the election of directors, amendments to our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions.

Increase in authorized shares

MEGL was established under the laws of BVI on May 10, 2016. The authorized number of Ordinary Shares was 50,000 shares with a par value of US$1.0.

On July 14, 2021, the shareholders of the Company resolved and approved to amend the maximum number of shares the company was authorized to issue to 300,000,000 shares of a single class each with a par value of US$0.0001 (the “Increase in Authorized Shares”) as part of the Company’s recapitalization prior to the listing. Following the Increase in Authorized Shares, on July 15, 2021, the Company newly issued 15,000,000 ordinary shares with a par value of US$0.0001 (the “Shares Issued”). Following the Shares Issued, the Company repurchased and cancelled 100 of the outstanding shares with a par value of US$1.0 issued as well as cancelled 50,000 of the authorized shares with a par value of US$1.0.

Share re-designation and share combination