Starbox Group Holdings Ltd. (the "Company"), a Cayman Islands-based advertising firm, announced today that it will hold an extraordinary general meeting of shareholders. The event is scheduled for September 2024, as per the notification and proxy statement filed with the U.S. Securities and Exchange Commission (SEC).
The Company, listed under the SIC code for Services-Advertising [7310], has made available the notice and proxy statement for the meeting, as well as the form of proxy card, through exhibits 99.1 and 99.2 respectively. These documents are integral to the upcoming meeting, enabling shareholders to review the matters to be discussed and to cast their votes.
The filing, which adheres to the SEC's Form 6-K requirements for foreign private issuers, ensures that the Company's shareholders are well-informed about the meeting's agenda and procedural details. The content of the meeting and the decisions to be made have not been disclosed in the announcement.
This announcement is based on the press release statement filed with the SEC and does not include any additional commentary or speculative information.
InvestingPro Insights
As Starbox Group Holdings Ltd. prepares for its extraordinary general meeting, shareholders may look to recent performance metrics to inform their decisions. According to InvestingPro data, the company holds a market cap of approximately $49.16 million and has demonstrated a significant revenue growth of 48.08% in the last twelve months as of Q2 2024. Despite these positive figures, the company's stock price has experienced considerable volatility and has seen a substantial decline, with a year-to-date price total return of -42.35%.
InvestingPro Tips highlight the firm's impressive gross profit margins, which stand at 83.46% for the same period, suggesting that while the company is adept at controlling the cost of goods sold, other factors are impacting profitability. Moreover, Starbox Group Holdings Ltd. has liquid assets that exceed short-term obligations, indicating a degree of financial flexibility in the near term. However, the company has not been profitable over the last twelve months, and it does not pay a dividend to shareholders, which might concern investors seeking regular income.
For those interested in a deeper analysis, InvestingPro offers additional tips on Starbox Group Holdings Ltd. at https://www.investing.com/pro/STBX, providing a comprehensive view of the company's financial health and stock performance.
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