J-Star Holding Co., Ltd. filed a Form 6-K on October 30, 2026, reporting the voting results of a Class Meeting and an Extraordinary General Meeting held on October 29, 2026, at which shareholders approved multiple proposals covering voting rights, share capital, and share structure changes.

Key Highlights

  • Class B voting rights increased: Holders of class A ordinary shares approved, by 87.73% of votes cast, raising each class B ordinary share's voting rights from ten (10) votes to fifty (50) votes on all matters at general meetings.
  • Class Meeting quorum: 2,191,156 class A ordinary shares, representing approximately 66.37% of outstanding class A shares as of the October 5, 2026 record date, were represented in person or by proxy.
  • Authorized share capital expanded: The EGM approved increasing authorized share capital from US$300,000,000 to US$2,500,000,000, through the creation of an additional 880,000,000 class A ordinary shares of US$2.50 par value each.
  • Par value reduction approved: Shareholders approved reducing the par value of each issued and outstanding class A and class B ordinary share from US$2.50 to US$0.001, with the credit transferred to a distributable reserve account.
  • Share subdivision authorized: Each authorized but unissued class A and class B ordinary share of US$2.50 par value is to be subdivided into 2,500 shares of US$0.001 par value each, resulting in a final authorized share capital of US$1,000,000.
  • EGM participation: 1,728,136 class A ordinary shares (approximately 52.35% of outstanding class A shares) and 1,219,438 class B ordinary shares (100% of outstanding class B shares) were represented at the EGM.

J-Star Holding Shareholders Approve Voting Rights and Capital Restructuring at October 2026 Meetings

According to the filing, J-Star Holding Co., Ltd. (NASDAQ:YMAT) convened two shareholder meetings on October 29, 2026, in Taichung City, Taiwan. The Class Meeting of holders of class A ordinary shares addressed two proposals, both of which were approved. The principal action was a special resolution to increase the voting rights attached to each class B ordinary share from ten (10) votes to fifty (50) votes on all general meeting matters, described in the filing as the "Class Rights Variation," subject to class consent from class B shareholders. Proposal One received 1,922,211 votes in favor (87.73%) and 268,944 votes against (12.27%), with zero abstentions.

At the Extraordinary General Meeting, seven proposals were presented and each was approved by shareholders. The filing describes a multi-step capital restructuring: first, authorized share capital is to be increased to US$2,500,000,000 by adding 880,000,000 class A ordinary shares at US$2.50 par value each. Subsequently, the par value of all issued and outstanding class A and class B ordinary shares is to be reduced from US$2.50 to US$0.001, cancelling US$2.499 of paid-up capital per share. The credit arising from this reduction is to be transferred to a distributable reserve account, which the filing states may be used, among other purposes, for "eliminating or setting off any accumulated losses of the Company (if any) from time to time."

Following the share capital reduction, each authorized but unissued share of US$2.50 par value is to be subdivided into 2,500 shares of US$0.001 par value, with a final authorized capital structure of US$1,000,000 divided into 940,000,000 class A ordinary shares and 60,000,000 class B ordinary shares, each at US$0.001 par value. A fifth proposal approved at the EGM, partially reproduced in the filing, references compliance with applicable law and Nasdaq requirements in connection with the effectiveness of the Share Capital Reduction and Reorganization.

What Was Disclosed

J-Star Holding Co., Ltd. reported shareholder approval at its October 29, 2026 Class Meeting and EGM of proposals to raise class B share voting rights to 50 votes per share, substantially expand authorized share capital, reduce par value from US$2.50 to US$0.001, and reorganize the company's share structure.