SplitJun 22, 2026, 12:07 PM
Greenland Mines Stockholders Approve Reverse Stock Split Proposal
AI Summary
Greenland Mines Ltd. stockholders approved a proposal at a special meeting on June 18, 2026, to effect one or more reverse stock splits of the company's outstanding common stock. The approved exchange ratio for each split will be between 1-for-2 and 1-for-50, with the aggregate ratio not exceeding 1-for-60. The Board of Directors has until March 31, 2027, to determine the specific terms. The proposal passed with 42,878,771 votes in favor.
Key Highlights
- Stockholders approved a proposal for one or more reverse stock splits of common stock.
- The exchange ratio for each reverse stock split will be between 1-for-2 and 1-for-50.
- The aggregate exchange ratio of all reverse stock splits will not exceed 1-for-60.
- The Board of Directors can determine the exact ratio until March 31, 2027.
- 42,878,771 votes were cast For the Reverse Stock Split Proposal.
- 2,210,259 votes were cast Against the proposal, with 22,102 abstentions.
- A quorum was present with 45,111,132 common shares represented at the meeting.
Price Impact
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