Intelligent Living Application Group Announces Share Consolidation Ratio of 1-for-10
Intelligent Living Application Group announced, on December 15, the Company held an extraordinary general meeting of the Company. At the Meeting, the shareholders of the Company approved to effect a share consolidation/reverse stock split of all the issued and outstanding and authorized and unissued ordinary shares and preferred shares including Series A and Series B preferred shares of the Company be consolidated with a corresponding increase in the par value of the Company's Ordinary Shares and Preferred Shares, at any one time or multiple times during a period of up to one year after the date of the approval of the authorization of share consolidations by the shareholders of the Company, at the exact consolidation ratio and effective time as the Board of Directors of the Company may determine from time to time in its absolute discretion provided that the accumulative consolidation ratio for all such share consolidation shall not be more than 1:200, to be determined by the Company's Board in its sole discretion.On December 22, the Board determined the ratio for Share Consolidation to be one- for- ten and to round up the fractions of the issued consolidated shares resulting from the Share Consolidation. The Company's Ordinary Shares will begin to trade on the NASDAQ Stock Market on the post-consolidation basis under the symbol "ILAG" on December 30, 2025. The current pre-split number of Ordinary Shares outstanding is 20,769,483 with a par value of $0.0001 and the post-split number of Ordinary Shares outstanding will be approximately 2,077,448 with a par value of $0.001. The new CUSIP number for the Company's Ordinary Shares post-consolidation is G4804S119. The Share Consolidation is primarily being effectuated to comply with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum bid price per share of the Company's ordinary shares.
