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Intercont (Cayman) Limited Announces Effective Time of Share Consolidation/Reverse Share Split to Regain NASDAQ Compliance
Globenewswire· 2026-03-30 14:00
Core Viewpoint - Intercont (Cayman) Limited will implement a 25-for-1 reverse share split effective April 2, 2026, to comply with Nasdaq's minimum bid price requirement of $1.00 per share [1][3]. Group 1: Share Consolidation Details - The reverse share split will combine every 25 shares into one, reducing the total number of authorized ordinary shares from 1,000,000,000 to 40,000,000, with a new par value of $0.0025 per share [4]. - The Class A ordinary shares will continue to trade under the symbol "NCT" but will have a new CUSIP number, G48049111, starting April 2, 2026 [2]. Group 2: Shareholder Approval and Implementation - Shareholders approved the reverse split and authorized the board to determine the final ratio and timing if the share price fell below $1.00 within 180 days of the approval at an Extraordinary General Meeting on January 26, 2026 [3]. - The board of directors approved the 25-for-1 ratio on March 22, 2026, for the reverse share split [3]. Group 3: Shareholder Actions and Adjustments - Shareholders holding shares in book-entry form will not need to take action to receive post-split shares, while those in brokerage accounts will have their positions automatically adjusted [5]. Group 4: Company Overview - Intercont (Cayman) Limited is a global shipping enterprise focused on environmentally friendly transportation solutions and innovative business models [6].
Troubadour Announces Share Consolidation
Accessnewswire· 2026-03-27 21:30
Core Viewpoint - Troubadour Resources Inc. has announced a share consolidation, converting ten pre-consolidation common shares into one post-consolidation common share, which was approved by shareholders at the annual general and special meeting on March 11, 2026 [2]. Share Consolidation Details - The company currently has 70,068,574 common shares issued and outstanding, and after the consolidation, it is expected to have approximately 7,006,857 common shares outstanding, subject to rounding [3]. - No fractional shares will be issued; any resulting fractional shares will be rounded down to the nearest whole share without compensation [4]. - The exercise or conversion price of the company's outstanding convertible securities will be proportionately adjusted upon the consolidation [4]. Trading Information - Post-consolidation, the company's common shares will continue to trade on the TSX Venture Exchange under the symbol "TR" [5]. - The completion of the consolidation is subject to final approval from the TSX Venture Exchange [5]. Company Overview - Troubadour Resources Inc. is focused on the acquisition and exploration of critical mineral and precious metal properties that are drill-ready with high-upside and expansion potential [6].
Athena Gold Announces Share Consolidation
Accessnewswire· 2026-03-27 11:00
Core Viewpoint - Athena Gold Corporation has announced a consolidation of its common shares, adjusting the share structure ahead of its fully-funded maiden drill program in Red Lake [1] Group 1: Share Consolidation Details - The consolidation will occur on the basis of every nine point nine (9.9) pre-consolidation common shares for every one (1) post-consolidation common share [1] - The Board of Directors is authorized to approve changes to the Company's capital structure, including the consolidation, without requiring shareholder approval [1]
XORTX Announces Share Consolidation
Globenewswire· 2026-03-25 22:15
Core Viewpoint - XORTX Therapeutics Inc. has announced a consolidation of its common shares at a ratio of one post-consolidation share for every five pre-consolidation shares, effective March 27, 2026, to comply with NASDAQ listing requirements [1][3]. Group 1: Share Consolidation Details - The consolidation has been approved by the TSX Venture Exchange and was ratified at the annual and special meeting of shareholders on March 24, 2026 [2]. - The number of issued and outstanding shares will decrease from 6,962,218 to approximately 1,392,444, with no fractional shares being issued [2]. - Fractional shares will either be canceled if less than half a share or rounded up to the nearest whole share if equal to or greater than half a share [2]. Group 2: Compliance and Trading Information - The consolidation aims to ensure compliance with NASDAQ's requirement for shares to trade above $1.00 for 10 consecutive days by April 13, 2026 [3]. - Post-consolidation shares will continue to trade under the symbol "XRTX" on both TSXV and NASDAQ, with a new CUSIP number of 98420Q405 [4]. - Trading on a post-consolidation basis is expected to commence on March 27, 2026 [4]. Group 3: Shareholder Communication - Shareholders of record as of the effective date will receive a letter of transmittal from TSX Trust Company with instructions for exchanging their shares [5].
XORTX Reports that Shareholders Approved the Share Consolidation at the Annual General Meeting
Globenewswire· 2026-03-24 21:00
Core Viewpoint - XORTX Therapeutics Inc. has received shareholder approval to consolidate its common shares to comply with NASDAQ listing requirements, specifically to ensure shares trade above $1.00 by April 13, 2026 [1][2] Share Consolidation Details - The consolidation will be on a basis of up to five pre-consolidation common shares for every one post-consolidation common share [1] - Currently, there are 6,962,218 common shares issued and outstanding, which will reduce to approximately 1,392,443 shares post-consolidation, depending on the handling of fractional shares [3] - No fractional common shares will be issued; they will either be canceled or rounded up to the nearest whole number [3] Trading and Shareholder Instructions - If approved by the TSX Venture Exchange, trading on a post-consolidation basis will commence on a date to be determined [4] - Registered shareholders will receive a letter of transmittal with instructions for exchanging their share certificates, while beneficial shareholders will not need to take action [4] Company Overview - XORTX is focused on developing therapies for gout and progressive kidney disease, with three advanced products: XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney injury [5] - The company is also developing XRx-225 for Type 2 diabetic nephropathy, targeting purine metabolism and xanthine oxidase to reduce uric acid production [5]
MegaWatt Announces Effective Date for Consolidation of Shares
Globenewswire· 2026-03-16 23:37
Core Viewpoint - MegaWatt Lithium and Battery Metals Corp. will consolidate its common shares on a 12:1 basis, effective March 20, 2026, resulting in a reduction of outstanding shares from approximately 37.25 million to about 3.10 million [1][2]. Share Consolidation Details - The consolidation will be executed at a ratio of one post-consolidation share for every twelve pre-consolidation shares [1]. - No fractional shares will be issued; any resulting fractions will be rounded to the nearest whole share [3]. - The outstanding incentive stock options and warrants will also be adjusted proportionately to reflect the consolidation [3]. Trading Information - Post-consolidation shares are expected to begin trading on the Canadian Securities Exchange (CSE) on or about March 20, 2026 [4]. Shareholder Instructions - Registered shareholders will receive letters of transmittal and must submit their pre-consolidation share certificates to the Company's transfer agent, National Securities Administrators Ltd., to receive post-consolidation shares [5]. Company Overview - MegaWatt is based in British Columbia and focuses on the acquisition and exploration of mineral properties, holding a 100% interest in the Cobalt Hill Property and the Route 381 Lithium Property, among others [6][7].
Thomson Reuters Files Documents for Proposed Return of Capital and Share Consolidation Transactions
Prnewswire· 2026-03-13 23:23
Core Viewpoint - Thomson Reuters has filed documents for a proposed return of capital and share consolidation transactions, which will be presented for shareholder approval at a special meeting [1] Group 1: Proposed Transactions - The proposed transactions include a special cash distribution totaling US$605 million, equating to approximately US$1.36 per common share [1] - Following the cash distribution, there will be a consolidation of outstanding common shares, with the consolidation ratio based on the volume-weighted average trading price of the shares on Nasdaq for the five trading days prior to the effective date [1] - The return of capital is expected to be tax-free for Canadian tax purposes, with eligible shareholders outside Canada having the option to opt out of the return [1] Group 2: Shareholder Meeting Details - A special meeting of shareholders is scheduled for April 28, 2026, at 9:00 a.m. EDT, which will be webcast [1] - Shareholders holding common shares as of 5:00 p.m. EDT on March 6, 2026, are entitled to vote at the meeting [1] - Shareholders requiring assistance with voting can contact Computershare Investor Services Inc. or D.F. King & Co., Inc. for support [1]
Gold'n Futures Announces Share Consolidation Effective March 17, 2026
Thenewswire· 2026-03-11 12:00
Core Viewpoint - Gold'n Futures Mineral Corp. will proceed with a share consolidation, reducing its outstanding common shares from approximately 236 million to about 2.36 million, effective March 17, 2026 [1][2]. Share Consolidation Details - The consolidation ratio is set at 100 pre-consolidation common shares for one post-consolidation common share [2]. - The total number of common shares will be reduced from 236,386,096 to approximately 2,363,858, subject to the cancellation of fractional shares [2]. - No fractional shares will be issued; any resulting fractional shares will be disregarded and cancelled without compensation [3]. Trading and Regulatory Information - Post-consolidation, the common shares will continue to trade on the Canadian Securities Exchange under the symbol "FUTR" [3]. - The new CUSIP number will be 38065C600 and the new ISIN will be CA38065C6009 [3]. - The consolidation is subject to the completion of required regulatory filings with the Canadian Securities Exchange [5]. Shareholder Instructions - Registered shareholders will receive a letter of transmittal for exchanging their pre-consolidation share certificates for post-consolidation certificates [4]. - Beneficial shareholders holding shares through brokers will not need to take any action regarding the consolidation [4].
MegaWatt Announces Proposed Consolidation of Shares
Globenewswire· 2026-03-09 22:18
Core Viewpoint - MegaWatt Lithium and Battery Metals Corp. has announced the approval of a share consolidation at its annual general meeting, with a proposed ratio of one post-consolidation share for every twelve pre-consolidation shares [1][2]. Share Consolidation Details - The company currently has 37,250,400 shares issued and outstanding on a pre-consolidation basis, which will reduce to approximately 3,104,200 shares post-consolidation, subject to rounding adjustments [2]. - No fractional shares will be issued; any resulting fractional shares will be rounded to the nearest whole share [3]. - The outstanding incentive stock options and warrants will be proportionately adjusted on a 12:1 basis, including corresponding adjustments to exercise prices [3]. Regulatory Approval - The consolidation is subject to approval from the Canadian Securities Exchange (CSE), and the company's name and stock symbol are expected to remain unchanged following the consolidation [4]. Company Overview - MegaWatt is based in British Columbia and focuses on the acquisition and exploration of mineral properties, holding a 100% interest in the Cobalt Hill Property and the Route 381 Lithium Property, among others [5][6].
Elong Power Holding Limited Announces the Change of Effective Date of its 1 for 80 Share Consolidations
Prnewswire· 2026-03-06 17:30
Core Viewpoint - Elong Power Holding Limited announced a share consolidation of its Class A and Class B ordinary shares at a ratio of 1 for 80 shares, effective March 12, 2026, to comply with Nasdaq Listing Rule 5810(c)(3)(A)(iii) [1] Group 1: Share Consolidation Details - The share consolidation will reduce the total issued and outstanding common shares from approximately 63 million to about 0.79 million [1] - Each 80 Class A ordinary shares with a par value of $0.00016 will convert into one Class A ordinary share with a par value of $0.0128, and the same applies to Class B ordinary shares [1] - The Board of Directors was authorized to implement share consolidations up to a cumulative ratio of 4000:1 within two years from the extraordinary general meeting held on January 6, 2026 [1] Group 2: Compliance and Objectives - The primary objective of the Reverse Split is to maintain compliance with Nasdaq's requirement for a closing bid price greater than $0.10 [1] - The Reverse Split will not alter any shareholder's percentage ownership interest in the Company, except for minor changes due to fractional shares [1] Group 3: Company Overview - Elong Power Holding Limited specializes in high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems [1] - The company is committed to the research, development, manufacturing, sales, and service of high-power lithium-ion batteries and has a comprehensive product and technology system [1]