ReTo Eco-Solutions (RETO) has released an update.
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ReTo Eco-Solutions, Inc. shareholders have shown their support by electing Tonglong Liu and Baoqing Sun as Class B directors and ratifying YCM CPA, Inc. as their independent auditor for 2024. They’ve also approved a major corporate restructuring, which includes the redesignation of existing common shares to Class A shares and the creation of new Class B shares, with significant voting power but restrictions on dividends and asset distribution. Additionally, the issuance of 1 million Class B shares to REIT International Development at par value has been sanctioned, marking a strategic move in their corporate governance.
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