SplitJun 10, 2026, 07:01 AM
Basel Medical Group Announces 1-for-12 Reverse Share Split
AI Summary
Basel Medical Group Ltd announced its board of directors has approved a 1-for-12 reverse share split, effective June 22, 2026. This action aims to enable the Company to regain compliance with Nasdaq's minimum bid price requirement of $1 per share. The reverse split will reduce the number of outstanding ordinary shares from approximately 18.79 million to 1.57 million, with no fractional shares being issued.
Key Highlights
- Basel Medical Group's board approved a 1-for-12 reverse share split.
- The reverse share split is effective June 22, 2026.
- Objective is to comply with Nasdaq Marketplace Rule 5550(a)(2) requiring a minimum $1 bid price.
- No shareholder approval or amendment to articles of association is required.
- Ordinary shares will trade under the same symbol "BMGL" with a new CUSIP G0864B111.
- Outstanding shares will reduce from 18,785,750 to approximately 1,565,480.
- No fractional shares will be issued; shareholders receive one whole share in lieu of fractional shares.
Price Impact
More from BMGL