PN News & Events

Skycorp Solar Group Ltd trading halted, news pending

Skycorp Solar announced that its board of directors has approved a reverse share split of all the company's issued and unissued shares at an exchange ratio of one share for 20 shares.

Skycorp Solar announced its board of directors has approved the adoption of a Share Repurchase Programme, under which the Company plans to repurchase its ordinary shares for a maximum total consideration of up to $2,000,000. The purpose of the Programme is to optimize the Company's capital structure, enhance earnings per share, and create long-term value for shareholders.

Skycorp Solar announced that the company received a notice from Nasdaq, stating that the company's Class A ordinary shares, par value $0.0001 per share, fail to comply with the $1.00 minimum bid price requirement for continued listing on Nasdaq in accordance with Nasdaq Listing Rule 5550 based upon the closing bid price of the Class A Ordinary Shares for the 30 consecutive business days prior to the date of the notice.