Neo-Concept Shareholders Approve Consolidation at 2-for-1 to 400-for-1, Plus Further 500-for-1 Authority
NCI sits 33% above its 52-week low of $0.57 on light trading volume (0.1× avg).
Summary
Neo-Concept shareholders approved a reverse split at a ratio the board can set between 2-for-1 and 400-for-1 by December 31, 2026, plus authority for further consolidations up to a cumulative 500-for-1 over two years.
Key Events · Corporate Governance and Compliance · NCI
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Shareholders Approve Reverse Split
Resolution 1 passed with 4,640,935 votes for, 10,045 against and 11,452 abstaining, authorizing consolidation of every 2 to 400 shares into one.
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Board Holds Ratio and Timing Discretion
Directors set the exact consolidation ratio and effective date, which must fall no later than December 31, 2026; fractional shares are rounded up to one consolidated share.
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Further Consolidations Pre-Approved
Resolution 2 passed 4,637,917 to 10,463 (14,052 abstaining), allowing additional consolidations over two years at ratios up to a cumulative 500-for-1, separate from the first split.
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Vote Base and Super-Voting Class B
At the October 9 record date there were 3,941,952 Class A shares and 140,000 Class B shares carrying 30 votes each; 462,432 Class A and all 140,000 Class B shares were represented, totaling 4,662,432 votes.
Analysis · NCI · Manufacturing
Shareholders have cleared the board to collapse the share count by anywhere from 2-for-1 to 400-for-1, with the exact ratio left to directors and a deadline of December 31, 2026. A second resolution goes further, letting the board run additional consolidations over the next two years up to a cumulative 500-for-1. For a company trading at $0.757 with a roughly $2.1 million market value, this is housekeeping aimed at keeping the Nasdaq listing and resetting the per-share price, not a change in the business. The practical risk is that the board can pick a ratio at the aggressive end of the range without another vote, and the broad further-consolidation authority means shareholders have effectively pre-approved repeated reverse splits.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NCI was trading at $0.76 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $2.1M. The 52-week trading range was $0.57 to $110.48. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.