Graphjet Technology announced that its shareholders approved a share consolidation proposal at an extraordinary general meeting held on August 7, 2025. The approved proposal authorizes the Board to effect a share consolidation at a ratio ranging from 1-for-50 to 1-for-150.
On the same date, the Board approved a specific share consolidation ratio of 1-for-60. This corporate action is primarily intended to increase the trading price of the company's ordinary shares to meet Nasdaq's continued listing requirements, specifically the minimum bid price rule.
In addition to the share consolidation, the company also announced the filing of its Form 10-Q for December 31, 2024, on August 5, 2025. Graphjet is actively working to complete its Form 10-Q for March 31, 2025, aiming to file all requisite quarterly reports before the September 15, 2025, deadline set by the Nasdaq Hearing Panel.
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