Graphjet Technology announced the effective date for the share consolidation of its ordinary shares at a ratio of 1-for-60.
The par value of the ordinary shares will be reduced from $0.0001 per share to $0.006 per share.
The Share Consolidation will be effective as of 12:01 a.m. Eastern Time on August 25, 2025.
Share Consolidation Details
Every 60 ordinary shares will be combined into one share with no fractional shares issued.
Trading Symbol and CUSIP Number
The ordinary shares will begin trading on The Nasdaq Global Market under the symbol 'GTI' with a new CUSIP number G30449139.
Purpose of Share Consolidation
The Share Consolidation aims to increase the trading price of ordinary shares to meet Nasdaq's listing requirements.
- The Share Consolidation will not affect shareholders' percentage ownership, except for adjustments due to fractional shares.
- Continental Stock Transfer & Trust Company will act as the exchange agent for the Share Consolidation, with automatic adjustments for electronically held shares.
The Share Consolidation approved by shareholders is a strategic move by Graphjet Technology to enhance the trading price of its ordinary shares and ensure compliance with market listing standards.