Company: FGI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001628280-25-020349
Chunk: 25

Company: FGI Industries Ltd.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 25
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 or that the per share market price of our ordinary shares following the reverse share split will increase in proportion to the reduction in the number of ordinary shares outstanding before the reverse share split. A decline in the market price of our ordinary shares after the reverse share split may result in a greater percentage decline than would occur in the absence of a reverse share split, and the liquidity of our ordinary shares could be adversely affected following such a reverse share split.

In addition, the reverse stock split may increase the number of shareholders who own odd lots (less than 100 shares), depending on the final ratio. Shareholders who hold odd lots may experience an increase in the cost of selling their shares and may have greater difficulty in effecting sales.

#### Vote Required for Approval
The affirmative “FOR” vote from a majority of the votes cast at the Annual General Meeting is required to approve the Reverse Split Proposal.

The Board Recommends a Vote “FOR” the Reverse Split Proposal.

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PROPOSAL 3:
RATIFICATION OF SELECTION OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

Marcum LLP (“Marcum”) had served as our independent registered public accounting firm since 2020. On November 1, 2024, CBIZ CPAs P.C. (“CBIZ”) acquired the attest business of Marcum. Subsequent to the filing of the Company’s preliminary proxy statement on April 18, 2025 and as further described in the Company’s Current Report on Form 8-K as filed with the SEC on April 23, 2025, Company was notified by Marcum that it was resigning as the Company’s independent registered public accounting firm. The Board, acting on the recommendation of its Audit Committee, has selected CBIZ as the Company’s independent registered public accounting firm for 2025. As a result of the appointment of CBIZ as the Company’s independent registered public accounting firm as successor to Marcum following CBIZ’s acquisition of Marcum, Proposal 3 at the Annual Meeting – the ratification of the selection of the Company’s independent registered public accounting firm – has been updated to reference CBIZ where applicable.

Notwithstanding its selection of CBIZ, the Audit Committee, in its discretion, may appoint another independent registered public accounting firm at any time during the year if the Audit Committee believes that such a change would be in the best interests of the Company and its shareholders. If the appointment of CBIZ is not ratified by our shareholders, the Audit Committee may reconsider whether