Corporate ActionOct 2, 2026, 04:16 PM
Kandal M Venture Ltd Proposes 1-for-40 Share Consolidation
AI Summary
Kandal M Venture Ltd has announced a proposed 1-for-40 share consolidation for its Class A and Class B ordinary shares, effective October 13, 2026. This corporate action is intended to help the company regain compliance with Nasdaq listing requirements. Following the consolidation, the par value per share will increase, and the total number of outstanding shares will significantly decrease. The move has received approval from both the company's board of directors and its shareholders.
Key Highlights
- Kandal M Venture Ltd announces a proposed 1-for-40 share consolidation for Class A and Class B ordinary shares.
- The share consolidation aims to help the company regain compliance with Nasdaq Marketplace Rule 5550(a)(2).
- The market effective date for the consolidation is October 13, 2026.
- The Class A Ordinary Shares will trade under the same symbol 'FMFC' but with a new CUSIP number G5225N126.
- Post-consolidation, every 40 shares of US$0.00001 par value will become one share of US$0.0004 par value.
- The number of outstanding shares will reduce from 19,694,940 to approximately 492,374.
- The consolidation was approved by the board on August 28, 2026, and by shareholders on September 22, 2026.
Price Impact
More from FMFC