Chijet Motor Company Announces Share Consolidation and Name Change
Chijet Motor Company, Inc. (NASDAQ: CJET) recently made a major announcement regarding its corporate structure. The company is set to implement a one hundred (100)-for-one (1) share consolidation of its ordinary shares, which will take effect on a designated future date.
Share Consolidation Details
The decision to consolidate shares was approved during a recent annual general meeting attended by shareholders. They supported the consolidation of both class A and class B ordinary shares, allowing a more streamlined and uniform share structure moving forward. This change aims to increase the share price and potentially attract more investors.
Implications for Shareholders
As part of the consolidation, every one hundred class A shares will be transformed into a single class A share, maintaining a par value of not more than US$0.3 per share. The same structure applies to class B shares. This deliberate move is expected to adjust the share's perceived value and marketability.
Trading Adjustments
Commencing from the day the consolidation is enacted, shareholders will notice that the class A shares trade on the Nasdaq Capital Market under a new CUSIP number: G4465R 129. This transition aims to ensure a smooth trading experience for all shareholders.
How the Consolidation Affects Shareholders
All shareholders should be aware that the consolidation is designed to be uniform across the board, meaning everyone will experience the same benefits and adjustments. The Company’s transfer agent will manage the exchange process, and no action is required on the part of the shareholders. For those holding shares through a broker or other financial institutions, their records will automatically reflect these changes.
No Fractional Shares
In the event that a shareholder would receive a fractional share due to the consolidation, this will be rounded up to the nearest whole share. This policy reinforces the Company’s commitment to maintaining its shareholders' interests throughout this transition.
About Chijet Motor Company
Chijet's core operations focus on developing, manufacturing, and servicing traditional fuel vehicles and new energy vehicles (NEVs). With advanced manufacturing systems and a robust supply chain management approach, the company has positioned itself as a reliable source for high-performing vehicles at competitive prices. Plans to further expand its manufacturing capabilities with a new facility dedicated to NEV production underscore Chijet’s commitment to innovation and sustainability.
Management Expertise
Chijet boasts a management team filled with seasoned professionals, each bringing decades of valuable experience across various functions, including engineering, design, and financial management. This depth of expertise will enable Chijet to navigate the evolving automotive landscape successfully.
Future Outlook
As Chijet moves forward with its share consolidation and potential name change to "Digital Currency X Technology Inc.", the company is optimistic about the impacts these changes will have on shareholder value and market performance. By streamlining its capital structure, Chijet aims to enhance the overall investment appeal of the company.
Investor Relations Contact
Investors looking for more information can reach out to Matthew Abenante, President of Strategic Investor Relations, LLC, at 347-947-2093 or via email at matthew@strategic-ir.com.
Frequently Asked Questions
What is the share consolidation timeline for Chijet?
The share consolidation is set to take effect, allowing for a new trading structure beginning from November 3, 2025.
How will the share consolidation affect current shareholders?
Shareholders will not need to take any action; their holdings will be automatically adjusted and rounded up to ensure consistent holdings post-consolidation.
What changes will occur in trading of shares post-consolidation?
Once the consolidation takes place, shares will trade under a new CUSIP number reflecting the updated structure on the Nasdaq Capital Market.
Is Chijet planning a name change?
Yes, Chijet intends to change its name to “Digital Currency X Technology Inc.” as part of its rebranding following the consolidation.
Who can shareholders contact for more information?
Shareholders can reach out to investor relations, specifically Matthew Abenante at Strategic Investor Relations, for any queries related to the consolidation.
