HONG
KONG, Jan. 4, 2025 /PRNewswire/ -- Caravelle
International Group (NASDAQ: HTCO) (the "Company"), a global ocean
technology company, announced that
the Company's annual shareholder meeting was held on January 3, 2025.
At the Annual Meeting, the shareholders voted to approve (1) the
proposed change of the name of the Company from "Caravelle
International Group" to "High-Trend International Group," (2) the
proposed re-designation and re-classification of 497,500,000
ordinary shares of a par value of US$0.0001 each in the capital of the Company
(including all of the issued and outstanding shares) as 497,500,000
Class A Ordinary Shares, and a proposed re-designation and
re-classification of 2,500,000 unissued ordinary shares of a par
value of US$0.0001 each in the
capital of the Company as 2,500,000 Class B Ordinary Shares, so
that the authorized share capital of the Company is US$50,000 divided into 497,500,000 Class A
Ordinary Shares of a par value of US$0.0001 each and 2,500,000 Class B Ordinary
Shares of a par value of US$0.0001
each, each with the rights, privileges, preferences and
restrictions set out in the Amended M&A (as defined below), (3)
the proposed second amended and restated memorandum and articles of
association of the Company (the "Amended M&A"), and (4) the
proposed removal of Mr. Guohua Zhang
as a director of the Company.
Jinyu Chang, Chairman of
Caravelle International Group addressed, this annual general
meeting marks an important milestone in the company's development,
signifying our entry into a new phase of high-quality growth. The
brand upgrade, optimization of equity structure, and better utilize
High-Trend Group's market influence in the green sector and its
strategic partner network. Looking ahead, we will continue to drive
innovation, continuously improve shipping efficiency, and actively
promote the application of green and low-carbon technologies,
creating greater value for our customers, shareholders, and
partners.
The Company also presented to its shareholders the Company's
financial information for the fiscal year ended October 31, 2023 and afforded the shareholders
the opportunity to discuss Company affairs with management.
About Caravelle International Group
Caravelle is a global ocean technology company with businesses
in international shipping and marine carbon neutrality. The company
is committed to improving shipping efficiency through innovative
technologies and promoting sustainable development in the
industry.
Forward Looking Statements
This announcement contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, including, without
limitation, those with respect to the objectives, plans and
strategies of the Company set forth herein and those preceded by or
that include the words "believe," "expect," "anticipate," "future,"
"will," "intend," "plan," "estimate" or similar expressions, are
"forward-looking statements". Such statements include, but are not
limited to risks detailed in the Company's filings with the U.S.
Securities and Exchange Commission, including its Annual Report on
Form 20-F for the fiscal year ended October
31, 2023. These forward-looking statements involve a number
of risks and uncertainties, which could cause the Company's future
results to differ materially from those anticipated. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such
forward-looking statements. All information provided in this press
release is as of the date of the publication, and the Company does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
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SOURCE Caravelle International Group