J-Star Announces General Meeting of Shareholders
TAICHUNG CITY, Taiwan, Nov. 17, 2025 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (NASDAQ:YMAT) ("J-Star" or the "Company"), a leading provider of innovative carbon fiber and composite solutions across a wide range of applications including personal sports equipment, healthcare products, automobile parts, resin systems, and research and development services, today announced that it will hold the 2025 annual general meeting of shareholders (the "AGM") on December 9, 2025 at 10:30 p.m. (Taiwan time) at the J-Star offices in Taichung City, Taiwan (7/F-1, No. 633, Sec. 2, Taiwan Blvd., Xitun District, Taichung City 407, Taiwan).
At the Meeting, the Company's shareholders will consider and vote on the following items of business:
- As an ordinary resolution: the authorized share capital of the Company be amended by:
- re-designating and re-classifying 17,200,387 issued ordinary shares of US$0.50 par value each (the "Ordinary Shares") as 17,200,387 Class A Ordinary Shares of US$0.50 par value each, with the rights of the existing Ordinary Shares remaining unchanged;
- re-designating and re-classifying 11,702,430 authorized but unissued Ordinary Shares of US$0.50 par value each as 11,702,430 Class A Ordinary Shares;
- cancelling 6,097,183 authorized but unissued Ordinary Shares and creating 6,097,183 Class B Ordinary Shares of US$0.50 par value each (each Class B Ordinary Share being entitled to ten (10) votes) (the "Share Capital Reorganisation").
- As an ordinary resolution: immediately following the Share Capital Reorganisation, the authorized share capital of the Company be increased from US$17,500,000 (divided into 28,902,817 Class A Ordinary Shares of US$0.50 each and 6,097,183 Class B Ordinary Shares of US$0.50 each) to US$65,000,000 (divided into 30,000,000 Class A Ordinary Shares of US$0.50 each and 100,000,000 Class B Ordinary Shares of US$0.50 each) by creating an additional 1,097,183 Class A Ordinary Shares and 93,902,817 Class B Ordinary Shares (the "Increase of Authorized Share Capital").
- As a special resolution: adoption of the Fifth Amended and Restated Memorandum and Articles of Association of the Company in substitution for the existing memorandum and articles of association, effective immediately after the Share Capital Reorganisation and Increase of Authorized Share Capital (the "Fifth Restated M&A Amendment Proposal").
- As an ordinary resolution: subject to the foregoing approvals and receipt of requisite consent and application by the relevant share-holders, the Company will repurchase 4,888,092 Class A Ordinary Shares held by New Moon Corporation and 1,209,091 Class A Ordinary Shares held by Mr. Jing-Bin Chiang, and issue 4,888,092 Class B Ordinary Shares to New Moon and 1,209,091 Class B Ordinary Shares to Mr. Chiang (the "New Issuance Proposal").
- As an ordinary resolution: to authorise the chairman of the meeting to adjourn the Meeting to a later date or dates for further proxy solicitation if there are not sufficient votes to approve items 1 – 4 (the "Adjournment Proposal").
The Board of Directors unanimously recommends that shareholders vote FOR all the above items.
The Board has fixed the close of business on November 3, 2025 (Eastern Time) as the record date (the "Record Date") for determining the shareholders entitled to receive notice of and vote at the Meeting or any adjournment thereof. Shareholders of record as of the Record Date are cordially invited to attend the Meeting in person. If you cannot attend, you are urged to send an email to [email protected] for more information by no later than 9:30 a.m. (Taiwan time) on December 7, 2025, to ensure representation at the Meeting.
Shareholders may obtain a copy of the Company's annual report on Form 20-F, free of charge, from the Company's website at https://ir.j-starholding.com/.
About J-Star Holding Co., Ltd.
J-Star (NASDAQ:YMAT) is a holding company with operations conducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its headquarters in Taiwan. J-Star's predecessor group was established in 1970, and has accumulated over 50 years of know-how in material composites industry. J-Star develops and commercializes the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, J-Star is able to apply its expertise and technology to design and manufacture a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products. Visit j-starholding.com and ymaunivers.com to learn more.
Contact:
Matt Chesler, CFA
FNK IR
646-809-2183
[email protected]
