ReTo Eco-Solutions approves share combination

ReTo Eco-Solutions (RETO) announced that on February 11, its board of directors approved a combination of its Class A shares on a ten-to-one basis. The Company’s Class A shares will begin trading on a post combination basis on March 7. As a result of the Share Combination, each ten pre-combination Class A shares of the Company will be automatically combined into one Class A share without any action on the part of the holders, with par value of the Class A shares of the Company being changed from 10c per share to $1.0 per share, and the Company’s issued and outstanding Class A shares will be reduced from 19,352,636 to approximately 1,935,264. The Company’s Class A shares will continue to trade on the Nasdaq Capital Market under the symbol “RETO” under a new CUSIP number – G75271307. The Share Combination is intended to increase the market price per share of the Company’s Class A shares to allow the Company to maintain its Nasdaq listing. The Company’s transfer agent, VStock Transfer, will act as the exchange agent.