Lianhe Sowell to Execute 1-for-16 Share Consolidation on June 22
LHSW•Lianhe Sowell will consolidate shares 1-for-16 on June 22, reducing Class A from 52 million to about 3.25 million and Class B from 3 million to about 187,500. The consolidation, approved by shareholders and the board, preserves shareholder stakes and secures the company’s Nasdaq listing under a new CUSIP.
1. Consolidation Mechanics
Lianhe Sowell will effect a 1-for-16 consolidation of its ordinary shares effective at market open on June 22, converting every 16 Class A or Class B shares at US$0.0001 par value into one share at US$0.0016 par value.
2. Outstanding Share Counts
Prior to consolidation, the company had 52,000,000 Class A shares and 3,000,000 Class B shares issued and outstanding; upon consolidation, these counts will adjust to approximately 3,250,000 Class A and 187,500 Class B shares, with any fractional shares rounded up to the nearest whole share.
3. Purpose and Listing Maintenance
Approved by the board on May 14 and by shareholders on May 28, the consolidation aims to maintain the Nasdaq Capital Market listing under the existing trading symbol but with a new CUSIP G5480C112, without altering individual shareholders’ percentage interests.
