Powell Max Plans 1-for-10 Share Consolidation on April 17, Cutting Shares to 1.04M
Powell Max Limited will implement a 1-for-10 share consolidation on April 17, cutting Class A shares to 1.04 million from 10.37 million and Class C shares to 0.68 million from 6.78 million. Authorized share capital will shrink to 55.03 million shares to boost per-share price above US$1.00.
1. Share Consolidation Terms
Effective at the opening of trading on April 17, 2026, Powell Max Limited will consolidate every ten issued Class A and Class C Ordinary Shares into one share. As a result, Class A shares will fall from 10,371,518 to approximately 1,037,152 and Class C shares from 6,781,611 to approximately 678,162, with fractional shares rounded up to the nearest whole share.
2. Authorized Capital Adjustment
Following the consolidation, the company’s authorized share capital will be reduced from 550,250,000 to 55,025,000 ordinary shares, comprised of up to 50,000,000 Class A shares, 25,000 Class B shares and 5,000,000 Class C shares, each with a par value of US$0.008.
3. Objective and Listing Compliance
The consolidation is designed to increase the market price per share above the US$1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. All Class A Ordinary Shares will retain the ticker symbol “PMAX” and receive a new CUSIP of G7200G126.