RETO.O News & Events

ReTo Eco-Solutions Inc trading halted, news pending

ReTo Eco-Solutions approved a combination of its Class A shares, no par value, on a four-to-one basis. The Class A Shares will begin trading on a post combination basis on May 18. As a result, each four pre-combination Class A Shares will be automatically combined into one Class A Share without any action on the part of the holders, with the number of issued and outstanding Class A Shares reduced from 13,079,201 to approximately 3,269,801. There will be no change to the par value of the Class A Shares. The Class A Shares will continue to trade on Nasdaq under the symbol "RETO" under a new CUSIP number - G75271406. The Share Combination is intended to increase the market price per share of the Class A Shares to allow the company to maintain its Nasdaq listing.

ReTo Eco-Solutions announced that its board of directors approved a combination of its Class A shares, no par value on a five-to-one basis. The Class A Shares will begin trading on a post combination basis on November 3. As a result of the share combination, each five pre-combination Class A Shares will be automatically combined into one Class A Share without any action on the part of the holders, with the number of issued and outstanding Class A Shares reduced from 7,327,491 to approximately 1,465,498. There will be no change to the par value of the Class A Shares, which will remain as no par value following the share combination.

ReTo Eco-Solutions' subsidiary Beijing REIT has partnered with a client in the United Arab Emirates to complete the shipment of the RT18A fully automatic production line. It is reported that this client introduced ReTo's RT15A fully automatic production line as early as 2009. Many years later, the client has once again chosen ReTo, this time purchasing the newly upgraded RT18A large-scale fully automatic production line.