SMART WIRES TECHNOLOGY LTD BOARD APPROVES REVISIONS TO AMENDED & RESTATED MEMORANDUM AND ARTICLES
DURHAM, NC – November 14, 2022 – Smart Wires Technology LTD (Smart Wires or the Company) today announced that its Board of Directors and Members holding at least a majority of the outstanding Ordinary Shares in the Company approved revisions to its Amended and Restated Memorandum and Articles of Association (the AR M&A) to increase authorized share capital, to change the par value of the Ordinary Shares from $0.01 USD per Ordinary Share to no par value, and to create a new class of Preferred Shares with various preferential rights, which are generally described below.The revisions include