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Antelope Enterprise Announces One-for-40 Reverse Stock Split
AEHLAntelope Enterprise Holdings(AEHL) GlobeNewswire·2025-04-01 20:30

Core Viewpoint - Antelope Enterprise Holdings Limited will implement a 1-for-40 reverse stock split of its Class A ordinary shares effective April 4, 2025, to comply with NASDAQ's minimum bid price requirement of 1.00pershare[1][2].Group1:ReverseStockSplitDetails−Thereversestocksplitwillconsolidateevery40issuedandoutstandingOrdinarySharesintooneOrdinaryShare,reducingthetotalnumberofsharesfromapproximately41,430,051toabout1,035,752[3].−Shareholdersentitledtofractionalshareswillreceiveonefullshareinsteadofafractionalshare[3].−Alloutstandingstockoptions,warrants,andotherrightstopurchasetheCompany′sOrdinaryShareswillbeadjustedproportionatelyduetothereversestocksplit[3].Group2:ComplianceandListingRequirements−ThereversestocksplitisaimedatregainingcompliancewithNASDAQ′srequirementthattheCompany′scommonstockmusthaveaclosingbidpriceof1.00 per share [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will consolidate every 40 issued and outstanding Ordinary Shares into one Ordinary Share, reducing the total number of shares from approximately 41,430,051 to about 1,035,752 [3]. - Shareholders entitled to fractional shares will receive one full share instead of a fractional share [3]. - All outstanding stock options, warrants, and other rights to purchase the Company's Ordinary Shares will be adjusted proportionately due to the reverse stock split [3]. Group 2: Compliance and Listing Requirements - The reverse stock split is aimed at regaining compliance with NASDAQ's requirement that the Company's common stock must have a closing bid price of 1.00 or more for at least ten consecutive trading days by April 30, 2025 [2]. - There is uncertainty regarding whether the Ordinary Shares will remain above the $1.00 minimum bid price after the reverse split, which is crucial for maintaining NASDAQ listing compliance [2]. Group 3: Company Overview - Antelope Enterprise holds a 51% ownership stake in Hainan Kylin Cloud Services Technology Co. Ltd, which operates a livestreaming e-commerce business in China, providing access to over 800,000 hosts and influencers [5].