SplitMay 15, 2026, 08:47 AM
Integrated Media Technology Proposes Reverse Stock Split to Avoid Delisting
AI Summary
Integrated Media Technology Ltd. announced its Annual General Meeting (AGM) to be held on June 9, 2026, where shareholders will vote on several key resolutions. The most significant proposal is a reverse stock split within a range of 1-for-5 to 1-for-10, aimed at maintaining the company's minimum bid price requirement for continued listing on Nasdaq and avoiding delisting. Other agenda items include the appointment of two directors, Ms. Jannu Binti Babjan and Mr. Uwe Henke von Parpart, and the approval of an Employee Stock Option Plan (ESOP).
Key Highlights
- AGM scheduled for June 9, 2026, at 12:30pm ACDT in Adelaide, Australia.
- Shareholders to vote on a reverse stock split (consolidation) ratio of 1-for-5 to 1-for-10.
- Consolidation aims to meet Nasdaq's minimum $1.00 bid price requirement by June 29, 2026.
- Fractional entitlements from consolidation will be rounded down to the nearest whole share.
- Proposed appointment of Jannu Binti Babjan as an independent non-executive director.
- Proposed appointment of Uwe Henke von Parpart as a non-executive director.
- Approval sought for an Employee Stock Option Plan (ESOP) to incentivize staff.
Price Impact
More from IMTE