New York, United States, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Graphjet Technology (NADSAQ: GTI) (the “Company”) today announced that its shareholders approved a share consolidation proposal at the Company’s extraordinary general meeting of shareholders held on August 7, 2025. The approved proposal authorizes the Company’s board of directors (the “Board”) to effect a share consolidation of the Company’s issued and unissued ordinary shares at a ratio ranging from 1-for-50 to 1-for-150, with the final ratio to be ...

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, utilizing patented technology [7] Compliance and Regulatory Requirements - 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, which uses recycled agricultural waste, allows it to provide an alternative source of graphite for electric vehicle batteries [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]