Golden Heaven Group Holdings Ltd. Announces 25 for 1 Share Consolidation
NANPING, China, May 6, 2025 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. ("Golden Heaven" or the "Company") (NASDAQ:GDHG), an amusement park operator in China, today announced that the Company's board of directors approved on April 23, 2025 that the authorized, issued, and outstanding shares of the Company be consolidated on a 25 for 1 ratio with the marketplace effective date of May 9, 2025.
The objective of the share consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on Nasdaq.
Beginning with the opening of trading on May 9, 2025, the Company's Class A ordinary shares will trade on the Nasdaq Capital Market on a split-adjusted basis, under the same symbol "GDHG" but under a new CUSIP Number, G3959D208.
As a result of the share consolidation, each 25 ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders. No fractional shares will be issued to any shareholders in connection with the share consolidation, and each shareholder will be entitled to receive one share of the Company in lieu of the fractional share of that class that would have resulted from the share consolidation.
At the time the share consolidation is effective, the Company's authorized share capital will be changed from US$200,600,000 divided into: (i) 40,000,000,000 Class A ordinary shares of par value of US$0.005 each, and (ii) 120,000,000 Class B ordinary shares of par value of US$0.005 each, to US$200,600,000 divided into: (i) 1,600,000,000 Class A ordinary shares with a par value of US$0.125 each, and (ii) 4,800,000 Class B ordinary shares with a par value of US$0.125 each. The Company's total issued and outstanding Class A ordinary shares will be changed from 74,323,604 Class A ordinary shares with a par value of US$0.005 each to approximately 2,972,944 Class A ordinary shares with a par value of US$0.125 each. The Company's total issued and outstanding Class B ordinary shares will be changed from 1,840,000 Class B ordinary shares with a par value of US$0.005 each to approximately 73,600 Class B ordinary shares with a par value of US$0.125 each.
About Golden Heaven Group Holdings Ltd.
Through its Chinese operating entities, the Company manages and operates amusement parks, water parks and complementary recreational facilities. The parks offer a broad selection of exhilarating and recreational experiences, including both thrilling and family-friendly rides, water attractions, gourmet festivals, circus performances, and high-tech facilities. For more information, please visit the Company's website at https://ir.jsyoule.com/.
Forward-Looking Statements
This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. 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. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or 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 U.S. Securities and Exchange Commission.
For more information, please contact:
Golden Heaven Group Holdings Ltd.
Email: [email protected]
Ascent Investor Relations LLC
Phone: +1-646-932-7242
Email: [email protected]
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SOURCE Golden Heaven Group Holdings Ltd.