Neo-Concept International Announces Share Consolidation
- 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
- 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
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
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?
When will NCI's share consolidation take effect?
What happens to NCI's authorized share capital after the consolidation?
Will NCI's stock symbol change after the share consolidation?
What is the new par value of NCI shares after consolidation?
