J-Long Group Limited Announces Share Consolidation/Reverse Stock Split to Regain NASDAQ Compliance

Core Viewpoint - J-Long Group Limited will implement a 1-for-10 reverse stock split of its Ordinary Shares to comply with Nasdaq's minimum bid price requirement of $1.00 per share, effective December 3, 2024 [1]. Group 1: Share Consolidation Details - The reverse stock split will combine every 10 shares into one, reducing the total number of authorized Ordinary Shares from 30,000,000 to 3,000,000, with a new par value of $0.000375 per share [3]. - No fractional shares will be issued; shareholders entitled to a fraction will receive shares rounded down to the nearest whole share [3]. - The CUSIP number for the Ordinary Shares will change following the reverse stock split [2]. Group 2: Adjustments and Procedures - Proportional adjustments will be made to the number of Ordinary Shares issuable upon the exercise of outstanding stock options or warrants, including adjustments to exercise prices and stock price targets [4]. - The Company's transfer agent, VStock Transfer, LLC, will manage the exchange process, and registered stockholders will not need to take action to receive post-split shares [5].