Olenox Industries Stockholders Approve Key Corporate Actions, Reject Merger Proposal

Stockholders of Olenox Industries (NASDAQ: OLOX) approved multiple corporate actions during the company's annual meeting held on March 31, 2026. The approved measures included the election of directors, ratification of the independent auditor, advisory approval of executive compensation, several share issuance proposals, and amendments to increase authorized shares and expand the company's stock incentive plan. Additionally, stockholders approved a potential reverse stock split at a ratio between 1-for-10 and 1-for-20, providing the company with flexibility to adjust its share structure if deemed necessary for market requirements or strategic initiatives.

In a significant decision, stockholders rejected the proposed merger agreement with New Asia Holdings and the related preferred stock conversion. This rejection indicates shareholder preference for Olenox Industries' current strategic direction as an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. The company, formerly known as Safe & Green Holdings Corp., operates through subsidiaries including Giant Containers, delivering modular and containerized systems designed for rapid deployment and long-term performance.

The approval of the reverse stock split authorization allows the company to potentially consolidate shares, which could help maintain compliance with Nasdaq listing requirements or improve the stock's marketability to institutional investors. The expansion of the stock incentive plan provides management with additional tools to attract and retain talent through equity-based compensation aligned with shareholder interests. These governance decisions collectively shape the company's capital structure and strategic flexibility moving forward.

Investors seeking additional information about Olenox Industries can access the latest news and updates in the company's newsroom at https://ibn.fm/OLOX. The press release detailing these stockholder decisions is available at https://ibn.fm/u8A76. These approvals and rejections represent significant governance milestones that will influence the company's operational and strategic trajectory in the coming years, particularly as it continues to focus on engineered solutions across key industrial markets through its subsidiary operations.