Corporate ActionMay 18, 2026, 07:06 AM
Mobile-health Network Solutions to Vote on 1:6 Reverse Split, New High-Vote Class C Shares
AI Summary
Mobile-health Network Solutions announced an Extraordinary General Meeting (EGM) to be held on June 8, 2026, to vote on several significant corporate actions. Key proposals include a 1-for-6 share consolidation (reverse split) to meet Nasdaq's minimum bid price requirement, the creation of a new Class C Ordinary Share class with 90 votes per share, and a substantial increase in the company's authorized share capital. These changes, if approved, will take effect from June 22, 2026, and will be reflected in an updated Memorandum and Articles of Association.
Key Highlights
- EGM scheduled for June 8, 2026, at 10 p.m. Singapore time (10 a.m. ET) to approve corporate actions.
- Proposal 1: Share consolidation (reverse split) of 1-for-6 for Class A and Class B shares, effective June 22, 2026.
- The share consolidation aims to increase the share price to meet Nasdaq's $1.00 minimum bid price requirement.
- Proposal 2: Creation of a new Class C Ordinary Share class with 90 votes per share, effective June 22, 2026.
- Proposal 3: Increase in authorized share capital to US$18,720,000, comprising 19,500,000,000 shares (6.5B each of Class A, B, C), effective June 22, 2026.
- Proposal 4: Adoption of new amended and restated Memorandum and Articles of Association to reflect these changes.
- Fractional shares resulting from the consolidation will be rounded up to the nearest whole share.
Price Impact
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