JE Cleantech Announces Voting Results Of Its Extraordinary General Meeting; Members Approved And Authorized A Consolidation Of The Co's Ordinary Shares Of The Co's Issued Ordinary Shares In A Range From 1-For-1.5 To 1-For-10 Ordinary Shares
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JE Cleantech Holdings Limited (NASDAQ:JCSE) has announced that its members have approved a potential consolidation of the company's ordinary shares, ranging from 1-for-1.5 to 1-for-10, at an Extraordinary General Meeting. The move is aimed at regaining full compliance with the Nasdaq's share price listing rule, which requires the bid price for the company's shares to close at $1.00 per share or more for a minimum of 10 consecutive business days.
September 05, 2023 | 2:31 pm
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JE Cleantech's potential share consolidation could lead to an increase in the trading price per share, helping the company regain full compliance with Nasdaq's share price listing rule.
The approved share consolidation could reduce the total number of JCSE's issued and outstanding shares, which is expected to result in an increase in the trading price per share. This move is aimed at ensuring that the company regains full compliance with the Nasdaq's share price listing rule, which could positively impact the company's stock price.
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