Flex Ltd. announced that its shareholders have approved all proposals necessary for the planned separation of its cloud and power infrastructure business. The approvals, granted at an Extraordinary General Meeting on November 2, 2026, clear the path for the spin-off of the business, which will operate as Axiom Solutions International, Inc.
Key Details
- Transaction Structure: The separation will be executed via a court-approved capital reduction, resulting in the distribution of 88.0% to 94.0% of Axiom Solutions International, Inc. common stock to Flex shareholders.
- Shareholder Vote: All three proposals related to the spin-off and director compensation were approved at the meeting, where 84.57% of outstanding shares were represented.
- Director Compensation: Shareholders also approved an additional $50,000 in annual cash compensation for the Lead Independent Director.