Meiwu Technology Company announces 1-for-20 reverse share split
Meiwu Technology announced that an 1 for 20 reverse share split of its ordinary shares, no par value each, (the "Ordinary Shares") was approved by the Company's Board of Directors on March 5, 2025. In connection with the reverse share split, the Company's shareholders will receive one new Ordinary Share of the Company for every twenty Ordinary Shares they hold. The Company's Ordinary Shares are expected to begin trading on a split-adjusted basis when the market opens on April 1, 2025. The reverse share split is expected to lead the Company's Ordinary Shares to trade at approximately twenty times the price per share at which the Ordinary Shares trade prior to the effectiveness of the reverse share split. The Company, however, cannot assure that the price of its Ordinary Shares after the reverse split will reflect the 1 for 20 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price. As of March 21, 2025, there were approximately 63.3 million of the Company's Ordinary Shares outstanding. Effecting the 1 for 20 reverse split will reduce that amount to approximately 3.2 million. The reverse split will not change the number of the Company's authorized shares.
