Shareholders to Vote on Up to 1-for-400 Reverse Stock Split to Avoid Nasdaq Delisting

summarizeSummary

Megan Holdings Ltd. will hold a shareholder meeting to vote on a reverse stock split of up to 1-for-400, a critical measure to regain Nasdaq compliance and avoid delisting.

check_boxKey Events · Corporate Governance and Compliance · MGN

• Proposed Reverse Stock Split

  Shareholders will vote on a proposal to consolidate shares at a ratio not exceeding 1-for-400, aimed at increasing the per-share price to meet Nasdaq's minimum bid price requirement.

• Nasdaq Delisting Threat

  This action directly responds to Nasdaq's notification of non-compliance with listing rules, as previously disclosed on 2026-05-13 and 2026-05-15.

• M&A Notice Period Amendments

  The company also proposes to shorten the minimum notice period for general meetings from 10 to 5 days and the deemed-service period for postal notices from 5 to 2 days, to allow for greater flexibility in convening meetings.

• Shareholder Meeting Date

  The Annual General Meeting is scheduled for July 13, 2026.

auto_awesomeAnalysis · MGN · Industrial Applications And Services

Megan Holdings Ltd. is seeking shareholder approval for an aggressive reverse stock split, up to a 1-for-400 ratio, to address its non-compliance with Nasdaq's minimum bid price rule and prevent delisting. This follows recent notifications from Nasdaq regarding the company's listing status and declining financial performance. The proposal also includes amendments to shorten notice periods for general meetings, potentially to facilitate quicker corporate actions.