Ucommune to Convene an Unusual Shareholders Gathering
Ucommune International Ltd, a leading Chinese co-working space provider listed on Nasdaq under the ticker symbol UK, has announced an extraordinary general meeting of shareholders scheduled for September 8, 2025, in Beijing, China. The meeting is open to shareholders of the company as of the record date, which is August 11, 2025, Eastern time.
The meeting, to be held at No. 2 Dongsihuan North Road, Building 1, 4th Floor, Chaoyang District, Beijing, China, aims to discuss major governance changes. The key proposals include:
- Increasing the voting power of Class B ordinary shares from 55 to 170 votes per share, effectively tripling their voting influence to concentrate control among Class B shareholders.
- Amending the conversion rights of Class B shares to eliminate the automatic conversion of these shares when transferred to non-affiliates. This change means that Class B shares can retain their enhanced voting power indefinitely, even if ownership passes to unrelated parties.
- Adopting the third Amended and Restated Memorandum and Articles of Association to formalize these changes and the updated governance structure immediately after the voting rights and conversion amendments take effect.
The Meeting may be subject to adjournments or postponements.
The changes in voting power and conversion right are collectively referred to as the "Change of Voting Power" and the "Amendment of Conversion Right". After the changes, the Class B Ordinary Shares' holder will retain all rights, preferences, privileges, and restrictions.
The Meeting seeks approval for the adoption of the third Amended and Restated Memorandum and Articles of Association. The changes and the adoption of the new articles will take effect immediately after the Meeting. The meeting will commence at 10:00 am Beijing time (10:00 pm U.S. Eastern time on September 7, 2025).
Shareholders are encouraged to review the detailed proxy statement and other meeting materials that Ucommune International Ltd will make available prior to the meeting. For more information, shareholders should contact their broker, bank, or other nominee for their Ucommune International Ltd shares or visit the company's investor relations website.
Stay tuned for more updates on this significant development in the governance of Ucommune International Ltd.
- At the extraordinary general meeting on September 8, 2025, the fiscal implications of the proposals regarding finance, such as increasing the voting power of Class B ordinary shares and amending the conversion rights of Class B shares, will be discussed in the context of business strategy.
- Post-meeting, if approved, the Amendment of Conversion Right and Change of Voting Power could potentially alter the business landscape, as the Class B Ordinary Shares' holder will retain all rights, including financial rights and privileges, indefinitely.
