Highlights

  • EUDA Health called an extraordinary general meeting for 30 October 2026 to create Class A and Class B shares.
  • Proposed Class B shares would carry 50 votes each, giving Tan Meng Dong about 89.5% of voting power.
  • First-half 2026 Revenue rose 13.4% to about US$3.47 million, while the net loss narrowed 33.7% to US$0.80 million.
  • Holistic wellness revenue grew 35.7% to about US$1.21 million as consumer product sales and stem cell services expanded.

A proposed overhaul of its share structure has put governance at the center of the latest disclosures from EUDA Health Holdings Limited (NASDAQ:EUDA). On 13 October 2026, the Singapore-based wellness and property management company called a virtual extraordinary general meeting for 30 October 2026 to seek approval for splitting its ordinary shares into Class A and Class B shares.

The company said the change would prepare it for possible Equity issuances tied to acquisitions and financing while keeping long-term control with a significant Shareholder and long-time advisor. The board urged shareholders to vote in favor of all three proposals.

How the Proposed Dual-Class Structure Would Work

Under the proposal, 326,631 shares held by Tan Meng Dong and 111,193 shares held by his company 8i Capital Limited would be re-classified as Class B shares, and 2,556,501 shares held by other shareholders would become Class A shares. Each Class B share would carry 50 votes, compared with one vote per Class A share, and would convert into Class A one-for-one on transfer outside permitted holders.

Mr. Tan and 8i Capital currently hold about 14.6% of voting power. After the change, they would still own about 14.6% of outstanding shares but about 89.5% of voting power. The proxy statement notes that such concentrated control would limit the ability of other shareholders to influence corporate matters, including director appointments and change-of-control transactions.

Wellness Growth Lifts First-Half Margins

In unaudited results for the six months to 30 June 2026, released on 29 September 2026, revenue rose 13.4% to US$3,467,835 and Gross Profit increased 53.5% to US$1,281,885. Property management revenue grew 8.0% to about US$2.26 million on higher fees, while holistic wellness revenue rose 35.7% to about US$1.21 million. Wellness gross Margin improved to 74.9% from 32.9% on much lower therapy service costs.

The net loss narrowed to US$796,950, or US$0.33 per share, from US$1,201,696, or US$0.65 per share. During the half, EUDA completed a 1-for-20 reverse share split on 23 March 2026, raised US$3.75 million through a registered direct offering of 625,000 shares and issued 500,000 shares for crypto Assets valued at US$7.31 million, mainly QB Tokens intended for a planned digital health and rewards platform.

Liquidity Plans and Going-Concern Doubt

At 30 June 2026, EUDA had Working Capital of about US$5.5 million but cash of only about US$0.4 million. Management stated that recurring operating losses since 2020 raise substantial doubt about the company's ability to continue as a going concern. It is in discussions with bankers about a convertible or equity financing, with no assurance of success, and expects wellness to become a more significant part of the business.

Separately, Subsidiary Melana International, which manages 31 properties in Singapore, was named a winner of the SME100 Awards 2026 Singapore in August.