Company Overview - Globavend Holdings Limited is an emerging e-commerce logistics provider offering end-to-end logistics solutions in Hong Kong, Australia, and New Zealand, primarily serving enterprise customers including e-commerce merchants and platform operators [6]. Reverse Stock Split Announcement - The company announced a 1-for-200 reverse stock split of its ordinary shares, which will take effect on July 21, 2025, with shares trading on a post-split basis [1][3]. - The reverse stock split will reduce the number of outstanding shares from approximately 253 million to about 1.27 million [3]. Shareholder Approval - A majority of shareholders approved the reverse stock split at an extraordinary general meeting held on April 28, 2025, with the Board of Directors subsequently endorsing the 1-for-200 ratio [2]. Impact on Shares - The reverse stock split will not alter any rights or preferences of the company's shares, and fractional shares will be rounded up to the nearest whole number [4]. - The par value of the ordinary shares will increase from $0.001 to $0.20 as a result of the split [4]. Transition Process - VStock Transfer, LLC will act as the exchange agent for the reverse stock split, and shareholders will receive information regarding the transition [5]. - Shareholders holding shares in book-entry form or through brokers will have their positions adjusted automatically without needing to take any action [5].
Globavend Holdings Limited Announces 1-for-200 Reverse Stock Split