Core Viewpoint - Graphjet Technology has announced a share consolidation at a ratio of 1-for-60, effective August 25, 2025, to increase the trading price of its ordinary shares to meet Nasdaq's listing requirements [1][6]. Group 1: Share Consolidation Details - The share consolidation will automatically combine every 60 ordinary shares into one ordinary share, with no effect on shareholders' percentage ownership, except for fractional shares [3][6]. - The par value of the ordinary shares will be increased from $0.0001 to $0.006 per share as part of the consolidation [1]. - The new CUSIP number for the ordinary shares post-consolidation will be G30449139 [2]. Group 2: Implementation and Process - The share consolidation will take effect at 12:01 a.m. Eastern Time on August 25, 2025, with trading on a split-adjusted basis commencing at the market open on the same day [2]. - Continental Stock Transfer & Trust Company will act as the exchange agent for the share consolidation, automatically adjusting positions for shareholders holding shares electronically [5]. - Fractional shares resulting from the consolidation will be rounded up to the nearest whole share, ensuring no fractional shares are issued [4]. Group 3: Company Background - Graphjet Technology, founded in 2019 in Malaysia, specializes in producing graphene and graphite using patented technology that recycles palm kernel shells [8]. - The company's sustainable production methods aim to transform the global graphite and graphene supply chain by utilizing waste agricultural products [8].

Company Overview - Graphjet Technology has received a decision letter from the Nasdaq Hearings Panel allowing it to continue its listing on Nasdaq, contingent upon compliance with specific listing rules by set deadlines [1][2][3] - The company specializes in producing graphene and graphite from agricultural waste, specifically palm kernel shells, which positions it uniquely in the market [7] Compliance and Regulatory Conditions - The company must demonstrate compliance with the Bid Price Rule by August 29, 2025, and the Periodic Filing Rule by September 15, 2025 [2] - An update on the company's fundraising plans is required by September 30, 2025 [2][3] Market Opportunities - Graphjet is positioned to benefit from China's export restrictions on graphite and increased tariffs on graphite imports to the US, leading to a global shortage of graphite [5] - The company's production method utilizes recycled materials, making it a sustainable alternative for electric vehicle battery production [5] Expansion Plans - The company plans to build a manufacturing plant in Nevada, which is expected to create new job opportunities and support the electric vehicle market amid graphite supply shortages [6]

Core Viewpoint - Graphjet Technology is undergoing significant changes, including a new controlling shareholder and plans to address Nasdaq compliance issues, which are crucial for the company's future growth and funding opportunities [2][3][4]. Group 1: Shareholder Changes and Funding - The new controlling shareholder, Mr. Aiden Lee, has contributed funds to facilitate the company's transformation and complete its audit for the fiscal year ending September 30, 2024 [2]. - The company is in discussions with several parties interested in funding, which will help in expanding its capacity and capabilities [6]. Group 2: Nasdaq Compliance and Hearings - Graphjet is actively working to resolve non-compliance with Nasdaq listing requirements and has engaged an experienced accounting firm to assist in completing the Form 10Qs for December 31, 2024, and March 31, 2025 [3]. - A hearing before the Nasdaq Hearings Panel is scheduled for July 17, 2025, where the company will appeal the delisting determination [4]. Group 3: Shareholders' Meeting and Reverse Split - A shareholders' meeting is set for July 30, 2025, to discuss a reverse split exercise aimed at meeting minimum price bids [5]. - The company is confident in securing shareholder approval for the reverse split, which is essential for compliance with Nasdaq requirements [5]. Group 4: Business Model and Technology - Graphjet Technology specializes in producing graphite and graphene from agricultural waste, specifically palm kernel shells, utilizing patented technology [8]. - The company's sustainable production methods are expected to transform the global graphite and graphene supply chain [8].