J-Long Group to effect 1-for-10 share consolidation

J-Long Group (JL) will effect a share consolidation of its Ordinary Shares at a ratio of 1-for-10, effective as of 11:59 pm on December 3, 2024, in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rules 5550(a)(2) and Rule 5450(a)(1). The Company’s Ordinary Shares are expected to begin trading on a Reverse Stock Split adjusted basis on Nasdaq as of the open of trading on December 4, 2024, under the existing ticker symbol “JL.” The Company’s member previously approved the reverse stock split and granted the Company’s board of directors the authority to determine the final reverse stock split ratio and when to proceed with the reverse stock split at a Special Meeting of Stockholders held on November 18, 2024. The Company will file an Amendment to its Memorandum and Articles of Association to effect the share consolidation/reverse stock split at the ratio of 1-for-10 as of the Effective Time. The CUSIP number for the Company’s Ordinary Shares will change following the reverse stock split.