Workflow
Fingerprint Cards AB (publ) updates on upcoming reverse share split
Globenewswireยท2025-07-16 10:10

Core Viewpoint - Fingerprint Cards AB (FPC) has encountered unforeseen technical issues that have delayed the planned reverse share split, which was initially set for July 11, 2025 [1][2]. Group 1: Reverse Share Split Details - The reverse share split will occur at a ratio of 1:2,000, meaning shareholders will receive one new share for every two thousand existing shares [4]. - After the reverse share split, the total number of shares will decrease from 15,175,375,766 to 7,587,687 shares, and the total votes will decrease from 15,246,250,766 to 7,623,120 votes [4]. - The Board of Directors has proposed a revised method for the reverse share split, utilizing a "rounding down-method" to avoid economic loss for shareholders [3]. Group 2: Financial and Operational Context - The reverse share split is part of FPC's strategy to align its share structure with its operational and financial progress, facilitating continued growth initiatives [5]. - The company intends to execute the reverse share split in the third quarter of 2025, with further details to be announced in a separate press release [5]. Group 3: Shareholder Implications - Shareholders holding fewer than 2,000 shares will have their holdings rounded down to zero and will no longer be shareholders in FPC [7]. - Eligible shareholders will receive cash compensation for any excess shares after the reverse share split [3].