Winny: Shareholders approve change in use of IPO funds
WINNY · price
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Winny Immigration and Education Services shareholders approved a special resolution to change the stated purpose of its IPO funds and extend the deadline for using those funds. The postal ballot passed with 100 percent votes in favour from about 71.26 percent of outstanding shares. Promoters voted entirely in favour and no votes were cast against the resolution.
Varying the original IPO object clause is generally seen as a negative governance signal. Retail investors should review the revised use of proceeds.