Chijet Motor Company Approves 1-for-30 Reverse Stock Split
Ticker: DCX · Form: 6-K · Filed: Jun 28, 2024 · CIK: 1957413
| Field | Detail |
|---|---|
| Company | Chijet Motor Company, INC. (DCX) |
| Form Type | 6-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $0.0001, $50,000.00, $30,000,000.00, $0.003 |
| Sentiment | neutral |
Sentiment: neutral
Topics: reverse-stock-split, shareholder-meeting, corporate-action
TL;DR
Chijet Motor Company is doing a 1-for-30 reverse stock split, effective June 28, 2024.
AI Summary
Chijet Motor Company, Inc. held its Annual General Meeting of Shareholders on June 28, 2024, where shareholders approved a 1-for-30 reverse stock split. This consolidation will reduce the number of issued and unissued ordinary shares.
Why It Matters
A reverse stock split is often done to increase the per-share price, which can be a requirement for listing on major stock exchanges.
Risk Assessment
Risk Level: medium — Reverse stock splits can sometimes signal underlying financial difficulties or be a precursor to delisting, though they can also be used to meet exchange requirements.
Key Numbers
- 1-for-30 — Reverse Stock Split Ratio (Shareholders approved a consolidation of every 30 shares into 1.)
Key Players & Entities
- Chijet Motor Company, Inc. (company) — Registrant
- June 28, 2024 (date) — Date of Annual General Meeting
- 1-for-30 (reverse_stock_split) — Approved share consolidation ratio
FAQ
What was the primary outcome of Chijet Motor Company's Annual General Meeting on June 28, 2024?
Shareholders approved a 1-for-30 reverse stock split (share consolidation).
What is the effective date of the reverse stock split?
The filing indicates the approval occurred on June 28, 2024, and the reverse split is pursuant to this approval.
What is the par value of Chijet Motor Company's ordinary shares?
The filing mentions the reverse stock split affects ordinary shares with a par value, but the specific par value is not stated in the provided text.
What is the company's principal executive office address?
The company's principal executive offices are located at No. 8, Beijing South Road, Economic & Technological Development Zone, Yantai, Shandong, CN-37 264006, People's Republic of China.
Does Chijet Motor Company file annual reports under Form 20-F?
Yes, the company indicated by check mark that it files or will file annual reports under cover of Form 20-F.
Filing Stats: 362 words · 1 min read · ~1 pages · Grade level 11.1 · Accepted 2024-06-27 21:50:06
Key Financial Figures
- $0.0001 — nary shares of the Company, par value US$0.0001 per share, were consolidated into 1 ord
- $50,000.00 — rsquo;s authorized share capital from US$50,000.00 divided into 16,666,667 authorized ordi
- $30,000,000.00 — par value of US$ 0.003 per share, to US$30,000,000.00 divided into 10,000,000,000 authorized
- $0.003 — authorized ordinary shares, par value US$0.003 per share; and (3) an amended and resta
Filing Documents
- form6-k.htm (6-K) — 18KB
- ex3-1.htm (EX-3.1) — 265KB
- ex99-1.htm (EX-99.1) — 8KB
- 0001493152-24-025501.txt ( ) — 293KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 28, 2024 Chijet Motor Company, Inc. By: /s/ Mu Hongwei Mu Hongwei President and Chief Executive Officer