Globalwealth Group Plc has proposed reducing its issued share capital by €37.386 following the cancellation of 37,386 treasury shares, with shareholders due to consider the proposal alongside plans to appoint 3 independent consultants to review the company’s employee share option scheme at an extraordinary general meeting in Nicosia on November 18, 2026.
The proposed share capital reduction will lower the company’s issued share capital from €105,436.963, divided into 105,436,963 ordinary shares, to €105,399.577, comprising 105,399,577 ordinary shares, each with a nominal value of €0.001.
The cancellation follows the expiry of the maximum statutory 2-year period during which the company was permitted to hold the 37,386 treasury shares, with the resolution stating that their disposal had been excluded.
The proposed cancellation and subsequent reduction in issued share capital are to be considered as special resolutions under the Companies Law and the company’s articles of association.
The company’s authorised share capital will remain unchanged at €500,000, divided into 500 million ordinary shares with a nominal value of €0.001 each.
The extraordinary general meeting will take place at 9am on November 18 at the company’s offices at 43 Agion Omologiton Avenue, 1080 Nicosia, where shareholders will also consider an ordinary resolution to appoint 3 independent consultants to review the employee share option scheme.
The proposed consultants are Ekkeshis Ierodiakonou Ltd, DMK Accountants Ltd and Highworth (Cyprus) Ltd.
They will be asked to examine the scheme in all its aspects and submit a written report to the board of directors setting out their findings and any recommendations they consider appropriate, including possible implementation, amendment or postponement.
The board will be authorised to agree the consultants’ terms of engagement and remuneration, consider their report and take any further action it considers appropriate within its powers, as well as sign the necessary documents.
Shareholders will also be asked to approve general resolutions authorising the board to execute and deliver documents and certificates on the company’s behalf and make the registrations, entries and filings required to implement the decisions.
The resolutions would also authorise the directors and/or company secretary to make the necessary entries, applications, notifications, publications and filings in the company’s registers, with the Registrar of Companies and with the stock exchange.
In addition, the board would be authorised to appoint or engage legal, tax, listing and financial advisers to assist with implementing the approved resolutions, under terms and conditions it considers appropriate.
The board would also be empowered to seek the necessary legal and tax advice, determine the appropriate way to implement the resolutions and take all further steps required to give effect to them.