Fitell Corporation announced on September 18, 2025, that it will effect a 1-for-16 share consolidation of its ordinary shares, with a post-share consolidation par value of $0.0016. The share consolidation is scheduled to become effective on September 23, 2025.
The company's class A ordinary shares are expected to begin trading on a post-consolidation basis at the open of the market session on September 23, 2025, under the existing symbol 'FTEL'. This action was approved by shareholders at the Extraordinary General Meeting on April 9, 2025, and the Board of Directors fixed the effective date on September 4, 2025.
The primary purpose of the share consolidation is to ensure the company meets the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Outstanding warrants and other equity rights will be proportionately adjusted to reflect the consolidation, and fractional shares will be rounded up to one ordinary share.
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