HONG KONG and SANTA CLARA, Calif., Nov. 15, 2018 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (Nasdaq: SPI), a global provider of renewable energy solutions and crypto-miner hosting services for residential, commercial and utility customers, today announced a 10-for-1 share consolidation, effective as of the close of business on November 15, 2018. Beginning on November 16, 2018, the Company’s ordinary shares will trade on the NASDAQ on post-consolidation basis.
At the Company’s extraordinary general meeting, the shareholders of the Company considered and passed an ordinary resolution authorizing that each ten ordinary shares, par value of US$0.00001, be consolidated into one ordinary share, par value of US$0.0001. As a result of the share consolidation, each 10 pre-consolidation ordinary shares outstanding will automatically combine into one ordinary share of the Company without any action on the part of the respective holders holding shares in a brokerage account. No fractional shares will be issued as a result of the share consolidation, and in lieu of any fractional shares to which any shareholder would otherwise be entitled as a result of the share consolidation will be rounded down. When the share consolidation becomes effective, the number of authorized shares of the Company’s ordinary shares will decrease to 500,000,000, while the number of issued and outstanding ordinary shares will be reduced from 72,606,716 to approximately 7,260,665.
The Company’s post-consolidation ordinary shares will continue to trade on the NASDAQ under the symbol “SPI” but under a new CUSIP number of G8651P 110.
The Company’s transfer agent, VStock Transfer, will provide instructions to shareholders holding shares in certificate form regarding the process for exchanging shares.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of renewable energy solutions and crypto-miner hosting services for residential, commercial and utility customers. SPI Energy focuses on the EPC/BT, and storage markets including the development, financing, installation, operation and sale of utility-scale and residential PV projects in Japan, Europe and North America. The company operates a B2B E-Commerce platform offering a range of PV, storage products in Australia as well as a turnkey solution (umining.io) offering global crypto-mining training, sale, hosting and repair service. The Company has its operating headquarters in Hong Kong and Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.
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SPI Energy Co., Ltd.
Source: SPI Energy Co., Ltd.
SPI Energy Co., Ltd.