Neo-Concept International Announces Share Consolidation

Rhea-AI Summary

Neo-Concept International Group Holdings announced a 5:1 share consolidation approved at their May 9, 2025 EGM. The consolidation will combine every five shares (both Class A and Class B ordinary shares) with par value of US$0.0000625 into one share with par value of US$0.0003125. The company's authorized share capital will remain at US$50,000, but the total shares will decrease from 800M to 160M, comprising 156M Class A shares and 4M Class B shares. The consolidation takes effect on June 16, 2025, with NCI continuing to trade on Nasdaq Capital Market under the same symbol but with a new CUSIP Number G6421C120.

Positive

• Share consolidation may help meet Nasdaq's minimum bid price requirement
• Maintains same authorized share capital value of US$50,000
• Potentially improves stock marketability and reduces volatility

Negative

• No change in company's market capitalization or underlying value
• May reduce stock liquidity due to fewer outstanding shares
• Transaction costs and administrative burden for shareholders

News Market Reaction

-9.92%

1 alert

-9.92% News Effect

On the day this news was published, NCI declined 9.92%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, June 12, 2025 (GLOBE NEWSWIRE) -- On May 9, 2025, Neo-Concept International Group Holdings Ltd (the “Company”) held the Company’s Extraordinary General Meeting (the “EGM”) , amongst which a share consolidation (the “Share Consolidation”) was approved by the shareholders, whereby every five issued and unissued shares (namely, both class A ordinary shares of par value US$0.0000625 each and class B ordinary shares of par value US$0.0000625 each) in the share capital of the Company be consolidated into one (1) share of par value US$0.0003125 each (the “Share Consolidation”) so that the authorized share capital of the Company shall be changed from US$50,000 consisting of 800,000,000 shares of par value US$0.0000625 each comprised of 780,000,000 class A ordinary shares of par value US$0.0000625 each and 20,000,000 class B ordinary shares of par value US$0.0000625 each to US$50,000 consisting of 160,000,000 shares of par value US$0.0003125 each comprised of 156,000,000 class A ordinary shares of par value US$0.0003125 each and 4,000,000 class B ordinary shares of par value US$0.0003125 each. The Share Consolidation was to be effective from such date and time to be determined by the board of directors of the Company which in any event shall not be later than 1 July 2025.

The Share Consolidation shall be reflected with the Nasdaq Capital Market and in the marketplace at the open of business on June 16, 2025, whereupon the Class A Ordinary Shares will continue trading under the symbol “NCI” and under the new CUSIP Number of G6421C120.

About Neo-Concept International Group Holdings Limited

Neo-Concept International Group Holdings Limited (“NCI”) is a one-stop apparel solution services provider. It offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management, serving customers located in the European and North American markets. It also sells its own branded fashion products under the brand “Les100Ciels” through retail stores in the UK and UAE, as well as the e-commerce platforms www.les100ciels.com and www.les100ciels.me.

NCI is dedicated to minimizing its environmental footprint by implementing various eco-friendly practices. It prioritizes recycling, clean processes, and traceable sourcing as part of its commitment to reducing environmental impact. Additionally, NCI actively seeks sustainable solutions throughout the garment production process, aiming to meet the needs of its customers in an environmentally responsible manner.

SAFE HARBOR STATEMENT

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify 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. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.

Enquiries:

Neo-Concept International Group Holdings Limited Investor Relations Contact:

10/F, Seaview Centre
No.139-141 Hoi Bun Road
Kwun Tong, Kowloon, Hong Kong
(+852) 2798-8639
Email: ir@neo-ig.com

FAQ

What is the NCI share consolidation ratio announced for June 2025?

Neo-Concept International announced a 5:1 share consolidation ratio, where every five shares will be consolidated into one share.

When will NCI's share consolidation take effect?

The share consolidation will take effect and begin trading on the Nasdaq Capital Market at the open of business on June 16, 2025.

What happens to NCI's authorized share capital after the consolidation?

The authorized share capital remains at US$50,000 but total shares decrease from 800M to 160M, with 156M Class A shares and 4M Class B shares.

Will NCI's stock symbol change after the share consolidation?

No, NCI will continue trading under the same symbol 'NCI' but with a new CUSIP Number G6421C120.

What is the new par value of NCI shares after consolidation?

The new par value will be US$0.0003125 per share, up from the previous US$0.0000625.