Mingzhu Logistics Plans Stock Consolidation

Mingzhu Logistics Holdings Ltd (YGMZ) has released an update.

Mingzhu Logistics Holdings Ltd is inviting shareholders to an Extraordinary General Meeting (EGM) on June 14, 2024, to vote on a proposed share consolidation to maintain compliance with Nasdaq’s minimum bid price rule. If the company’s share price does not meet Nasdaq’s minimum requirement, the board will pursue a reverse stock split at a ratio of five-for-one to bolster the stock price. Additionally, shareholders will consider increasing the authorized share capital and adopting new company articles, all aimed at enhancing the company’s market position and regulatory compliance.

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