VS Media Holdings Limited Announces 1-for-7 Share Combination
10 Junho 2024 - 6:00PM
VS Media Holdings Limited (NASDAQ: VSME, the "Company"), a leader
in managing a global network of digital creators, today announced
that it plans to implement a 1-for-7 share combination of its Class
A ordinary shares (“Class A Ordinary Shares”) and Class B ordinary
shares (“Class B Ordinary Shares”) (the "Share Combination"),
effective on June 17, 2024.
Beginning with the opening of trading on June
17, 2024, the Company's Class A Ordinary Shares will begin trading
on a post-Share Combination basis on the Nasdaq Capital Market
under the same symbol "VSME", but under a new CUSIP number of
G9517U202. The objective of the Share Combination is to enable the
Company to regain compliance with Nasdaq Marketplace Rule
5550(a)(2) and maintain its listing on the Nasdaq Capital Market.
Upon the effectiveness of the Share Combination, every seven issued
and outstanding Class A Ordinary Shares of no par value each and
Class B Ordinary Shares, no par value per share will automatically
be converted into one issued and outstanding Class A Ordinary Share
of no par value each and Class B Ordinary Shares, no par value per
share, respectively. No fractional shares will be issued as a
result of the Share Combination. Instead, any fractional shares
that would have resulted from Share Combination will be rounded up
to the next whole number. The Share Combination affects all
shareholders uniformly and will not alter any shareholder's
percentage interest in the Company's outstanding ordinary shares,
except for adjustments that may result from the treatment of
fractional shares.
The Share Combination was approved by the
Company's board of directors on June 5, 2024, and its shareholders
on June 10, 2024.
About VS MediaVS Media Holdings
Limited (NASDAQ: VSME) manages a network of leading digital
creators across Asia Pacific that powers content-driven social
commerce and offers local and effective marketing services to
brands. Founded in 2013, VSME partners with over 1,500 creators and
over 1,000 brands to promote and merchandise their products and
services. The Company is currently growing internationally
across Hong Kong, China, Taiwan, Singapore, and beyond. For more
information, visit https://www.vs-media.com.
Forward-Looking
StatementsCertain statements in this announcement are
forward-looking statements, including, for example, statements
about potential activity under share repurchase plan. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on the Company's current expectations
and projections about future events that the Company believes may
affect its financial condition, results of operations, business
strategy and financial needs. These forward-looking statements are
also based on assumptions regarding the Company's present and
future business strategies and the environment in which the Company
will operate in the future. Investors can find many (but not all)
of these statements by the use of words such as "may," "will,"
"expect," "anticipate," "aim," "estimate," "intend," "plan,"
"believe," "likely to" or other similar expressions. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the SEC.
Contact information:VS Media Holdings
Limitedir@vs-media.com
VS Media (NASDAQ:VSME)
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