Basel Medical Group Approves 1-for-12 Reverse Share Split on June 22
BMGL•Basel Medical Group will consolidate shares on a 1-for-12 basis effective June 22, 2026, reducing share count from 18,785,750 to 1,565,480 to comply with Nasdaq’s $1 minimum bid price rule. No shareholder approval is needed under BVI law and shares will trade under same symbol with a new CUSIP.
1. Reverse Share Split Plan
Basel Medical Group’s board authorized consolidation of issued and outstanding ordinary shares on a 1-for-12 ratio effective at market open June 22, 2026, reducing outstanding share count from 18,785,750 to approximately 1,565,480.
2. Nasdaq Compliance Objective
The reverse split is intended to raise the per-share bid price above $1 to meet Nasdaq Capital Market Rule 5550(a)(2) and maintain listing status after a period of sub-$1 quotations.
3. Legal Provisions and Trading Details
Under British Virgin Islands law and the company’s charter, no shareholder approval or charter amendments are required; following the split, shares will trade under the existing symbol “BMGL” with a new CUSIP, and fractional entitlements will be rounded to whole shares.
