Founder Group Limited Announces 100 for 1 Share Combination

Rhea-AI Summary

Founder Group Limited (NASDAQ:FGL) will effect a 100-for-1 share combination with a marketplace effective date of February 10, 2026. The combination is intended to enable the company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its Nasdaq listing.

Post-combination, Class A shares will trade under the same symbol FGL with a new CUSIP G3662E121. Each 100 ordinary shares will combine into one share automatically; fractional holdings will be rounded up via bonus shares. Pre-combination counts: 32,178,109 Class A and 9,324,733 Class B shares; post-combination approximations: 321,781 Class A and 93,247 Class B.

Positive

• Objective to regain compliance with Nasdaq Rule 5550(a)(2)
• Maintains Nasdaq listing under symbol FGL
• Automatic conversion requires no action from shareholders
• New CUSIP assigned: G3662E121
• Concrete share count reduction: Class A from 32,178,109 to ~321,781

Negative

• Outstanding share count reduced by a 100:1 ratio, materially lowering share quantity
• Share combination may change trading float dynamics due to the large reduction in share count
• Fractional shares handled by bonus shares, which could modestly alter individual holdings

News Market Reaction

-27.47% 5.9x vol

23 alerts

-27.47% News Effect

-46.2% Trough in 2 hr 23 min

-$996K Valuation Impact

$3M Market Cap

5.9x Rel. Volume

On the day this news was published, FGL declined 27.47%, reflecting a significant negative market reaction. Argus tracked a trough of -46.2% from its starting point during tracking. Our momentum scanner triggered 23 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $996K from the company's valuation, bringing the market cap to $3M at that time. Trading volume was exceptionally heavy at 5.9x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Share combination ratio: 100-for-1 Pre-combination Class A: 32,178,109 shares Pre-combination Class B: 9,324,733 shares +5 more

8 metrics

Share combination ratio 100-for-1 Ordinary share combination effective February 10, 2026

Pre-combination Class A 32,178,109 shares Issued and outstanding immediately prior to share combination

Pre-combination Class B 9,324,733 shares Issued and outstanding immediately prior to share combination

Post-combination Class A approximately 321,781 shares Total issued and outstanding after 100-for-1 combination

Post-combination Class B approximately 93,247 shares Total issued and outstanding after 100-for-1 combination

Current share price $0.1354 Pre-announcement trading level vs $1.69 52-week high

52-week high $1.69 Stock trading 91.99% below this level pre-news

Nasdaq Rule Rule 5550(a)(2) Minimum $1 bid price listing requirement for Nasdaq Capital Market

Market Reality Check

Price: $15.44 Vol: Volume 919,602 is 0.43x t...

low vol

$15.44 Last Close

Volume Volume 919,602 is 0.43x the 20-day average of 2,153,941, indicating muted trading ahead of the share combination. low

Technical Price at $0.1354 is well below the $0.75 200-day MA and 91.99% below the 52-week high of $1.69, reflecting prolonged weakness before the 100-for-1 share combination.

Peers on Argus

Sector peers show mixed moves, with FBGL in the momentum scanner down 5.74% and ...

1 Up 1 Down

Sector peers show mixed moves, with FBGL in the momentum scanner down 5.74% and another peer (MIMI) up 6.67%. With FGL’s pre-news move at -0.37% and limited aligned peer direction, trading appears more company-specific than sector-driven.

Historical Context

4 past events · Latest: Nov 12 (Negative)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Nov 12	Nasdaq deficiency notice	Negative	-2.9%	Nasdaq notice for failing to meet $1 minimum bid price requirement.
Sep 26	Major project win	Positive	-35.5%	Announcement of RM1.16 billion (USD276M) 310 MWp solar-plus-storage project.
Sep 24	Growth opportunity	Positive	-20.6%	Up to RM17.4 billion (USD4.1B) EPCC opportunity and AI-related initiatives.
Sep 10	Contract award	Positive	+0.0%	US$2.36M EPC contract for 30MW large-scale solar plant in Malaysia.

Pattern Detected

Recent news has often been followed by negative or non-positive price reactions, even on seemingly favorable project and growth announcements.

Recent Company History

Over the past months, Founder Group’s news flow covered compliance risks and sizeable project wins. A Nov 6, 2025 Nasdaq minimum bid price deficiency notice led to a -2.88% move, setting the stage for actions like today’s share combination. Earlier, large Malaysia solar and AI-related opportunities on Sep 24–26, 2025 saw sharp declines of -20.59% and -35.5%. A US$2.36 million solar contract on Sep 10, 2025 produced a flat reaction. Today’s consolidation directly addresses the prior bid-price deficiency.

Market Pulse Summary

The stock dropped -27.5% in the session following this news. A negative reaction despite the complia...

Analysis

The stock dropped -27.5% in the session following this news. A negative reaction despite the compliance-focused action would fit a pattern where past announcements, including large project wins, coincided with weak price performance. The 100-for-1 share combination reduces outstanding Class A shares to roughly 321,781 and Class B to about 93,247, but does not alter fundamentals by itself. With the stock already 91.99% below its $1.69 52-week high pre-news, traders may have focused on perceived risks around liquidity or future financing.

Key Terms

nasdaq marketplace rule 5550(a)(2), nasdaq capital market, cusip, class a shares, +1 more

5 terms

nasdaq marketplace rule 5550(a)(2) regulatory

"regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing"

Nasdaq Marketplace Rule 5550(a)(2) sets a minimum share price requirement for companies listed on the Nasdaq Capital Market, typically requiring that a company’s common stock maintain a closing bid of at least $1.00 per share. It matters to investors because failure to meet this threshold can trigger a delisting review, which is similar to failing a safety inspection: the stock may be removed from the exchange or force corporate actions (like a reverse split) that change liquidity, visibility, and how easy it is to buy or sell the shares.

nasdaq capital market regulatory

"will trade on the Nasdaq Capital Market on an adjusted basis, under the same symbol"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

cusip financial

"under the same symbol “FGL” but under a new CUSIP number, G3662E121."

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

class a shares financial

"The Company’s Class A shares of no par value each (the “Class A Shares”)"

Class A shares are one of a company’s distinct types of stock that come with a specific set of rights—commonly different voting power, dividend treatment, or transfer rules—defined in the company’s charter. Investors care because those rights affect control, income and resale value; like holding a seat at a table that has different rules or stronger chips than other seats, owning Class A changes how much influence and return you can expect.

class b shares financial

"32,178,109 Class A Shares and 9,324,733 Class B shares of no par value each"

Class B shares are one type of a company’s stock that carries a specific set of rights — often different voting power or dividend rules compared with other classes. For investors, that affects influence over company decisions and potential income: owning Class B might mean fewer or more votes per share or different claim on profits, like having a different seat at a decision table or a different slice of the payout pie.

AI-generated analysis. Not financial advice.

SELANGOR, Malaysia, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (“FGL” or the “Company”) today announced that the authorised, issued, and outstanding shares of the Company will be combined on a 100 for 1 ratio with the marketplace effective date of February 10, 2026.

The objective of the share combination 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 February 10, 2026, the Company’s Class A shares of no par value each (the “Class A Shares”) will trade on the Nasdaq Capital Market on an adjusted basis, under the same symbol “FGL” but under a new CUSIP number, G3662E121.

As a result of the share combination, each 100 ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders. Each shareholder who holds fractional shares following, and as a result of, the share combination, will be issued with such bonus shares as is necessary to ensure that their shareholding is rounded up to the nearest whole number.

Immediately prior to the share combination, 32,178,109 Class A Shares and 9,324,733 Class B shares of no par value each (the “Class B Shares”) are issued and outstanding. As a result of the share combination, (i) the number of total issued and outstanding Class A Shares will be approximately 321,781, and (ii) the number of total issued and outstanding Class B Shares will be approximately 93,247 Class B Shares.

About Founder Group Limited

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.

For more information on the Company, please log on to https://www.founderenergy.com.my/.

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events, including but not limited to, the Company’s proposed Offering. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the registration statement on Form F-1 related to the Offering, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

Contact Information:

Founder Group Limited Contact:
Eric Lee
Chief Executive Officer
Telephone +03-3358 5638
Email: ericlee@founderenergy.com.my

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

What is the effective date of Founder Group Limited's 100-for-1 share combination (FGL)?

The share combination becomes effective at market open on February 10, 2026. According to the company, trading will reflect the adjusted share basis beginning with the opening of trading on that date.

Why is Founder Group Limited (FGL) doing the 100-for-1 share combination?

The combination aims to enable the company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2). According to the company, the action is intended to maintain the company’s listing on Nasdaq.

How will my Founder Group Limited (FGL) shares be converted in the reverse split?

Each 100 ordinary shares will automatically combine into one issued and outstanding ordinary share. According to the company, this conversion requires no action from shareholders.

Will Founder Group Limited (FGL) change its ticker or CUSIP after the share combination?

The ticker will remain FGL, but the CUSIP will change to G3662E121. According to the company, shares will trade under the same symbol on an adjusted basis.

What will be the approximate share counts for Founder Group Limited (FGL) after the 100-for-1 combination?

Post-combination, Class A shares will be approximately 321,781 and Class B shares approximately 93,247. According to the company, these are the rounded totals after the 100-for-1 conversion.