AGM/EGMJun 16, 2026, 04:36 PM
Kandal M Venture Ltd to Hold EGM for 1-for-16 Share Consolidation
AI Summary
Kandal M Venture Ltd (FMFC) has announced an Extraordinary General Meeting (EGM) scheduled for July 9, 2026. The main agenda item is to approve a 1-for-16 share consolidation, intended to boost the stock's per-share price and meet Nasdaq's continued listing requirements. The board will determine the effective date, which must be by September 30, 2026. The meeting will be held in a hybrid format, allowing for both physical and electronic participation.
Key Highlights
- Kandal M Venture Ltd will hold an Extraordinary General Meeting (EGM) on July 9, 2026.
- The primary purpose of the EGM is to consider and approve a 1-for-16 share consolidation.
- The share consolidation aims to increase the per-share price and regain compliance with Nasdaq's minimum bid price rule ($1.00).
- The board of directors has the authority to determine the effective date of the consolidation, no later than September 30, 2026.
- As of June 5, 2026, there were 15,300,000 Class A Ordinary Shares and 3,000,000 Class B Ordinary Shares outstanding.
- Class A shares are entitled to one vote, while Class B shares are entitled to 20 votes each.
Price Impact
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