Big Tree Cloud Holdings Limited Announces Implementation of Class A/B Share Structure and 1-for-20 Share Consolidation
Reverse Stock Split
The Reverse Stock Split has been approved by the Company's shareholders and the Company's board of directors. The ordinary shares were consolidated by consolidating each 20 ordinary shares of the Company, with such consolidated ordinary shares having the same rights and being subject to the same restrictions (save as to par value) as the existing ordinary shares.
No fractional shares were issued, and any fractional share interests resulting from the consolidation were rounded up to the next whole share. The Reverse Stock Split affects all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's outstanding ordinary shares, except for adjustments that may result from the rounding up of fractional shares.
Dual-Class Share Structure
Upon and immediately following the effectiveness of the Share Consolidation, the authorised share capital of the Company was changed from
Upon and immediately following the effectiveness of the Dual-Class Share Structure, the shares of the Company were redesignated with immediate effect as follows:
(i) the 3,500,000 issued ordinary shares of par value of
(ii) the remaining 1,251,873 issued ordinary shares of par value of
(iii) the 18,748,127Â authorised but unissued ordinary shares of par value of
(iv) the 1,500,000 authorised but unissued ordinary shares of par value of
Concurrently, the company amended its memorandum and articles of incorporation to adjust the authorised share capital of the Company to
Management Commentary
"Today marks a significant milestone as we implement a refined capital structure designed to support the next phase of growth for
About
Founded in 2020,
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company's final prospectus and other reports its files with the U.S. Securities and Exchange Commission (the "Commission") before making any investment decisions regarding the Company's securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
Investor Relations Contact
Phone: +86 15986815865
Email: yanting@bigtreeclouds.com
View original content:https://www.prnewswire.com/news-releases/big-tree-cloud-holdings-limited-announces-implementation-of-class-ab-share-structure-and-1-for-20-share-consolidation-302685042.html
SOURCE