Graphjet Technology announced the effective date for a 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 through the consolidation.
The Share Consolidation will be effective as of 12:01 a.m. Eastern Time on August 25, 2025, with shares trading on a split-adjusted basis on The Nasdaq Global Market under the symbol 'GTI'.
Share Consolidation Details
1-for-60 share consolidation reducing the par value from $0.0001 to $0.006 per share, effective on August 25, 2025.
CUSIP Number Change
New CUSIP number for ordinary shares post-consolidation will be G30449139.
Fractional Shares Handling
No fractional shares will be issued; fractions will be rounded up to the nearest whole share.
Shareholder Adjustments
Transfer agent to adjust positions electronically or through nominees for the Share Consolidation.
- The Share Consolidation aims to increase the trading price of ordinary shares to meet Nasdaq's listing requirements.
- Shareholders' percentage ownership will not be affected by the consolidation except for potential adjustments due to fractional shares.
- Board approval of the Share Consolidation followed by shareholder approval and subsequent filing of Amended and Restated Memorandum and Articles of Association.
The Share Consolidation initiative by Graphjet Technology is a strategic move to enhance share trading value and comply with Nasdaq requirements, showcasing proactive corporate governance and investor-focused decision-making.