AirNet Announces Annual General Meeting Date and Proposed Increase of Authorized Share Capital

Rhea-AI Summary

AirNet Technology Inc., formerly AirMedia Group Inc., announced its annual general meeting date on May 31, 2024, to discuss increasing the authorized share capital from US$1 million to US$40 million. Shareholders will vote on creating additional ordinary and preferred shares. The Record Date is May 2, 2024, with shareholders entitled to attend the AGM.

BEIJING, May 02, 2024 (GLOBE NEWSWIRE) -- AirNet Technology Inc., formerly known as AirMedia Group Inc. (“AirNet” or the “Company”) (Nasdaq: ANTE), today announced that it has called an annual general meeting of shareholders (the “AGM”), to be held at Suite 301, No. 26 Dongzhimenwai Street, Chaoyang District, Beijing 100027, People’s Republic of China on May 31, 2024 at 10:00 A.M. (Beijing time). The proposal to be submitted for shareholders’ approval at the AGM is to consider and vote on the resolution to increase the authorized share capital of the Company from US$1,000,000 divided into 22,500,000 ordinary shares of a nominal or par value of US$0.04 each and 2,500,000 preferred shares of a nominal or par value of US$0.04 each to US$40,000,000 divided into 900,000,000 ordinary shares of a nominal or a par value of US$0.04 each and 100,000,000 preferred shares of a nominal or par value of US$0.04 each, by the creation of an additional 877,500,000 ordinary shares with a par value of US$0.04 each and 97,500,000 preferred shares with a par value of US$0.04 each.

The record date (the “Record Date”) for determining the shareholders entitled to receive notice of the AGM or any adjournment or postponement thereof has been set as May 2, 2024. Holders of record of the Company’s ordinary shares at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements are based upon management’s current expectations and current market and operating conditions, and involve inherent risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

Contact

Penny Pei
Investor Relations 
AirNet Technology Inc. 
Tel: +86-10-8460-8678 
Email: penny@ihangmei.com

FAQ

When is AirNet's annual general meeting scheduled?

AirNet's annual general meeting is scheduled for May 31, 2024.

What is the purpose of the AGM?

The AGM will discuss increasing AirNet's authorized share capital.

Where will the AGM take place?

The AGM will be held at Suite 301, No. 26 Dongzhimenwai Street, Chaoyang District, Beijing 100027, People’s Republic of China.

What is the Record Date for the AGM?

The Record Date is set as May 2, 2024.

What is the proposed increase in authorized share capital?

The proposal is to increase the share capital from US$1 million to US$40 million by creating additional ordinary and preferred shares.

Who is eligible to attend the AGM?

Shareholders holding AirNet's ordinary shares as of the Record Date are eligible to attend the AGM.

What is the current authorized share capital of AirNet?

The current authorized share capital is US$1 million divided into ordinary and preferred shares of a nominal value of US$0.04 each.

What time will the AGM start?

The AGM is scheduled to start at 10:00 A.M. (Beijing time) on May 31, 2024.