Graphjet Technology has announced a significant shareholder agreement with Aiden Lee Ping Wei, the company's former Chief Executive Officer. On May 15, 2025, the company entered into a Warrant Subscription Agreement, allowing Wei to purchase 20 million warrants to acquire up to 200 million shares of Class A ordinary shares at an exercise price of $0.055 per share, totaling $200,000. Under the agreement, Wei is restricted from transferring any warrant shares for 12 months from the effective date. Additionally, after exercising up to 29 million shares, stockholder approval will be required for the issuance of shares underlying the remaining warrants. This development marks a notable change in the company's shareholder structure.
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