Davis Commodities Sets March 9 Date for 20-for-1 Reverse Share Split
Board approved a 20-for-1 reverse share split of Class A and B ordinary shares, effective March 9, 2026, after shareholder approval on February 4. Par value per share will rise from US$0.000000430108 to US$0.00000860216, with any fractional entitlements rounded up.
1. Reverse Split Approval and Timing
The board of directors authorized a 20-for-1 reverse share split for both Class A and Class B ordinary shares, following shareholder consent on February 4, 2026. The split-adjusted shares will begin trading on March 9, 2026, under the existing Nasdaq Capital Market listing symbol.
2. Consolidation Terms and Par Value Adjustment
Under the reverse split, every 20 issued and unissued Class A or Class B shares will consolidate into one share, raising the par value from US$0.000000430108 to US$0.00000860216. No fractional shares will be issued; entitlements will be rounded up to the nearest whole share.
3. Listing Compliance and Trading Impact
This measure is intended to maintain compliance with Nasdaq continued listing standards and support an improved market trading price. The Class A shares will retain the Nasdaq symbol and adopt a new CUSIP number G2677P113 post-split.