FUZHOU,
China, Sept. 21, 2023 /PRNewswire/ -- E-Home
Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or
"E Home"), a provider of integrated household services in
China, today announced that at an
extraordinary general meeting of the Company held on September 15, 2023, at 10:00 a.m., local time, at E-Home, 18/F, East
Tower, Building B, Dongbai Center, Yangqiao Road, Gulou District,
Fuzhou City 350001, China (the "Meeting"), its shareholders
approved resolutions that would result in (i) a share consolidation
of 10 issued and unissued ordinary shares with par value
of US$0.02 each in the Company's issued and unissued
share capital into one ordinary share with par value
of US$0.2 (the "Share Consolidation") and (ii) an
increase in the authorized share capital of the Company from (a)
US$1,020,000 divided into (x)
5,000,000 shares designated as ordinary shares with a par value of
US$0.2 per share and (y) 10,000,000
shares designated as preferred shares with a par value of
US$0.002 per share, to (b)
US$100,020,000 divided into (x)
500,000,000 shares designated as ordinary shares with a par value
of US$0.2 per share and (y)
10,000,000 shares designated as preferred shares with a par value
of US$0.002 per share (the "Share
Capital Increase"). The shareholders also approved at the Meeting
the third amended and restated memorandum and articles of
association of the Company to reflect the Share Consolidation and
the Share Capital Increase. The Share Consolidation is primarily
being effectuated to regain compliance with Nasdaq Marketplace Rule
5550(a)(2) related to the minimum bid price per share of the
Company's ordinary shares.
The Company will announce the market effective date of the Share
Consolidation shortly. Immediately after the Share Consolidation,
each shareholder's percentage ownership interest in the Company and
proportional voting power will remain unchanged, except for minor
changes and adjustments that will result from the treatment of
fractional shares. The rights of the holders of ordinary shares
will be substantially unaffected by the Share Consolidation. No
fractional shares will be issued in connection with the Share
Consolidation, and all such fractional shares will be round up to
the nearest whole number of shares following or as a result of the
Share Consolidation. Shareholders who are holding their shares in
electronic form at brokerage firms do not need to take any action,
as the effect of the Share Consolidation will automatically be
reflected in their brokerage accounts.
About E-Home Household Service Holdings Limited
Established in 2014, E-Home Household Service Holdings Limited
is a Nasdaq-listed household service company based in Fuzhou, China. The Company, through its
website and WeChat platform "e-home", provides integrated household
services, including 1) installation and maintenance of home
appliances and smart homes; 2) Housekeeping, nanny, confinement
nurse and cleaning services; 3) Internet elderly care + home-based
elderly care; 4) Hospital care; 5) Nanny delivery platform.
After years of development, the Company has formed two main
services and four auxiliary services targeting at individual
consumers (ToC) and business clients (ToB). 1) The ToC business
focuses on nanny, confinement nurse, home-based elderly care and
cleaning, and family comprehensive service supplemented by other
housekeeping services. At present, it has successfully connected
with metaverse technology to realize metaverse-based customer
service as well as training of domestic workers. The ToB business
focuses on public cleaning and cleaning robotic equipment. Four
auxiliary services include 1) docking and application of metaverse
technology to housekeeping and cleaning industries; 2) online and
offline sales of medicine and health food (including nannies and
nursing workers); 3) training on nannies and nursing workers to
engage in health care in physical stores; 4) human resources
(flexible employment).
E-Home has become a modern enterprise of comprehensive service
for family life. The Company always adheres to the business
philosophy of "solving every issue of customers with heart", and to
the code of conduct of "doing everything well with heart". The
Company aims to set the benchmark of the household service
industry. For more information, visit the Company's website at
http://www.ej111.com/ir.html.
Forward-Looking Statement
All statements other than statements of historical fact in
this announcement are forward-looking statements in nature within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements involve known and unknown
risks and uncertainties and are based on current expectations and
projections about future events and financial trends that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions are intended to identify
such forward-looking statements. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to consider risk
factors, including those described in the Company's filings with
the SEC, that may affect the Company's future results. All
forward-looking statements attributable to the Company and its
subsidiaries or persons acting on their behalf are expressly
qualified in their entirety by these risk factors.
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SOURCE E-Home Household Service Holdings Limited
