Davis Commodities Announces Effective Date of Trading of Shares on a 20-for-1 Reverse Share Split Basis

Core Viewpoint - Davis Commodities Limited has announced a 20-for-1 reverse share split to comply with Nasdaq listing standards and potentially improve share price [1][3]. Group 1: Reverse Share Split Details - The reverse share split will consolidate every 20 Class A Ordinary Shares into one Class A Ordinary Share and every 20 Class B Ordinary Shares into one Class B Ordinary Share [2]. - Following the reverse split, the par value of each Class A and Class B Ordinary Share will increase from US$0.000000430108 to US$0.00000860216 [2]. - No fractional shares will be issued; any fractional entitlements will be rounded up to the nearest whole share [2]. Group 2: Trading and Compliance - The Class A Ordinary Shares will continue to trade on the Nasdaq Capital Market under the symbol "DTCK" [3]. - The new CUSIP number for the Class A Ordinary Shares after the reverse split will be G2677P113 [3]. - The reverse split is aimed at helping the company maintain compliance with Nasdaq's continued listing standards [3]. Group 3: Company Overview - Davis Commodities Limited is based in Singapore and specializes in trading agricultural commodities such as sugar, rice, and oil and fat products [3]. - The company operates in various markets, including Asia, Africa, and the Middle East, and distributes commodities under the brands Maxwill and Taffy [3]. - It utilizes a global network of third-party commodity suppliers and logistics service providers to serve customers in over 20 countries [4].