Core Viewpoint - Meiwu Technology Company Limited announced a 1 for 20 reverse share split, which will reduce the number of outstanding shares from approximately 63.3 million to about 3.2 million, effective April 1, 2025 [1][3]. Group 1: Reverse Share Split Details - The reverse share split will result in shareholders receiving one new Ordinary Share for every twenty shares they currently hold [1]. - Following the reverse split, the Ordinary Shares are expected to trade at approximately twenty times the price per share prior to the split, although the company cannot guarantee this price will be maintained [2]. - The number of authorized shares will remain unchanged despite the reduction in outstanding shares [3]. Group 2: Adjustments and Procedures - The outstanding stock options and restricted shares will be proportionally adjusted to reflect the reverse split, including the relevant exercise price per share [4]. - Any fractional shares resulting from the reverse split will be rounded up to the nearest whole share at the broker's level [5]. - New share certificates will be issued as old certificates are exchanged, and registered shareholders in book-entry form will not need to take action to receive post-split shares [6]. Group 3: Company Background - Meiwu Technology Company Limited, incorporated in the British Virgin Islands in December 2018, has transitioned its business focus from online food sales to the skincare industry, selling functional skincare products through its subsidiary in China [7].
Meiwu Technology Company Limited Announces 1 for 20 Reverse Share Split