05/18/2026 | Press release | Distributed by Public on 05/18/2026 11:44
On May 15, 2026, acting by written consent, a majority of our shareholders approved a proposal granting the Board of Directors the authority to consolidate our issued and unissued ordinary shares at a ratio of not less than one (1)-for-two (2) and not more than one (1)-for one hundred (100), with the exact ratio to be determined by the Board in its sole discretion and to be implemented no later than 180 days following the resolution.
Also on May 15, 2026, following the shareholder approval discussed above, our Board of Directors, acting pursuant to the authority granted by the shareholders, approved a reverse split of the Company's ordinary shares at a ratio of one (1) ordinary share for every four (4) ordinary shares held. Fractional shares resulting from the split will be rounded up to the next whole share. Additional disclosure will be provided regarding the anticipated market effective date of the reverse split.
2