Core Viewpoint - Jiuzi Holdings, Inc. will implement a 1-for-13 reverse share split of its ordinary shares to comply with Nasdaq's minimum bid price requirement of 0.00015 to $0.00195 per share [1]. - The number of issued and outstanding shares will decrease from approximately 135.3 million to about 10.4 million [2]. - No fractional shares will be issued; fractional interests will be rounded up to the nearest whole number [2]. Group 2: Company Background - Jiuzi Holdings, Inc. is a new energy vehicle dealership group based in Hangzhou, China, established in 2017 [4]. - The company operates retail stores under the "Jiuzi" brand, primarily selling battery-operated electric vehicles in third and fourth-tier cities in China [4]. - Jiuzi Holdings sources its vehicles from over twenty NEV manufacturers and operates 51 franchise stores along with one company-owned store [4].
Jiuzi Holdings Inc. Announces 1-For-13 Reverse Share Split