TJGC Group Ltd (NASDAQ:TJGC) announced that its board of directors approved a 1-for-3 consolidation of its ordinary shares.
The consolidation was approved on May 6 and does not require a shareholder vote under the company's governing documents.
After the consolidation, every three issued ordinary shares will be combined into one share, reducing the total number of issued ordinary shares from 30,300,000 to 10,100,000.
No fractional shares will be issued; any fractional entitlement will be rounded up to the next whole share.
TJGC Group's ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market at the opening of trading on May 26. The ticker symbol "TJGC" remains, but a new CUSIP number G2588N116 will be used.
The consolidation does not affect the par value of the shares, which remains nil, nor the number of authorized shares.
Source: SEC filing.
