POWELL MAX LIMITED ANNOUNCES 1-FOR-10 SHARE CONSOLIDATION EFFECTIVE APRIL 17, 2026

Powell Max (Nasdaq: PMAX) announced a 1-for-10 share consolidation effective at the opening of trading on April 17, 2026 to raise the per-share price above the US$1.00 Nasdaq minimum bid requirement.

Rhea-AI Summary

Powell Max (Nasdaq: PMAX) announced a 1-for-10 share consolidation effective at the opening of trading on April 17, 2026 to raise the per-share price above the US$1.00 Nasdaq minimum bid requirement.

The consolidation reduces authorized share capital to a maximum of 55,025,000 shares and will change issued Class A shares from 10,371,518 to approximately 1,037,152; new CUSIP G7200G126.

Positive

• 1-for-10 consolidation targets higher per-share price
• Issued Class A shares cut ~90% to ~1,037,152
• New CUSIP assigned: G7200G126

Negative

• Authorized share capital reduced from 550,250,000 to 55,025,000
• Fractional-share rounding up may modestly increase outstanding shares

Argus Apr 15 session

-27.67% close to close Open Argus

Details

News Market Reaction – PMAX

On Apr 15, the day this news came out, PMAX closed 27.67% below the previous close.

Data tracked by StockTitan Argus for the Apr 15 session.

Key Figures

Share consolidation ratio: 1-for-10 Nasdaq minimum bid: US$1.00 Authorized shares pre-consolidation: 550,250,000 shares +5 more

Share consolidation ratio

1-for-10

Reverse share consolidation effective April 17, 2026

Nasdaq minimum bid

US$1.00

Target price level for continued Nasdaq Capital Market listing

Authorized shares pre-consolidation

550,250,000 shares

Authorized share capital before April 17, 2026 consolidation

Authorized shares post-consolidation

55,025,000 shares

Maximum authorized share capital after consolidation

Authorized Class A

50,000,000 shares

Authorized Class A Ordinary Shares after consolidation

Authorized Class B

25,000 shares

Authorized Class B Ordinary Shares after consolidation

Authorized Class C

5,000,000 shares

Authorized Class C Ordinary Shares after consolidation

Class A outstanding pre/post

10,371,518 → ~1,037,152

Issued and outstanding Class A shares before and after consolidation

Historical Context

5 past events · Latest: Mar 26

5 events

1. Mar 26

   Strategic partnership

   24h Move

   -7.3%

   Boston Solar partnership with Sunrite and LOI disclosure for acquisition.

2. Mar 23

   Acquisition LOI

   24h Move

   +26.3%

   Signed non-binding LOI to acquire Boston Solar for $9.0 million.

3. Mar 19

   Advisors engaged

   24h Move

   -7.5%

   Engaged RBW and Spartan to pursue strategic transactions and growth.

4. Mar 09

   Repositioning, financing

   24h Move

   -34.1%

   Completed corporate repositioning and $17 million private placement.

5. Feb 13

   Nasdaq compliance

   24h Move

   +4.4%

   Regained compliance with Nasdaq audit committee requirements.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

share consolidation, minimum bid price, nasdaq capital market, cusip number, +3 more

7 terms

share consolidation financial

"today announced a 1-for-10 share consolidation (the “Share Consolidation”) of all issued"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

minimum bid price financial

"to a level above the US$1.00 minimum bid price requirement for continued listing"

The minimum bid price is the lowest share price that a market, regulator, or specific offering will accept for a trade, listing, or auction—think of it as a reserve or floor that a stock must meet to qualify for certain actions. It matters to investors because falling below that floor can limit trading options, trigger compliance measures or delisting risks, and affect liquidity and the perceived value of a holding, much like a reserve price in an auction sets the baseline for a sale.

nasdaq capital market financial

"requirement for continued listing on the Nasdaq Capital Market."

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 number financial

"and will be assigned a new CUSIP Number: G7200G126."

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

par value financial

"each with a par value of US$0.008."

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

fractional shares financial

"No fractional shares will be issued as a result of the Share Consolidation."

Fractional shares are portions of a whole share of a stock or fund, allowing investors to own less than one full unit. They make it possible to invest a specific dollar amount rather than buy whole shares, like buying a slice of a pizza instead of the entire pie. For investors this lowers the cost barrier, helps with diversification, and lets you reinvest dividends or purchase expensive stocks in small, precise amounts.

View in glossary

beneficial holders financial

"For beneficial holders who hold shares through a brokerage firm, fractional shares"

Beneficial holders are the people or entities who actually enjoy the economic rights of shares—such as dividends, price gains and voting power—even when the shares are registered in someone else’s name (for example a broker or nominee). For investors, knowing who the beneficial holders are matters because large or concentrated beneficial ownership can influence company decisions, trading liquidity and the outcome of votes or takeover offers, similar to knowing who truly controls a group even if someone else holds the paperwork.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Boca Raton, FL, April 15, 2026 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (“Powell Max” or the “Company”), a financial communications services provider, today announced a 1-for-10 share consolidation (the “Share Consolidation”) of all issued and outstanding ordinary shares, effective at the opening of trading on April 17, 2026. The Share Consolidation is intended to increase the market price per share of the Company’s Class A Ordinary Shares to a level above the US$1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The Share Consolidation will be effected pursuant to the Sixth Amended and Restated Memorandum and Articles of Association. The Company’s Class A Ordinary Shares (the “Class A Ordinary Shares”) will continue to trade on the Nasdaq Capital Market under the ticker symbol “PMAX” and will be assigned a new CUSIP Number: G7200G126.

Upon effectiveness of the Share Consolidation, the Company’s authorized share capital will be reduced from 550,250,000 shares to a maximum of 55,025,000 shares, comprised of: (i) 50,000,000 Class A Ordinary Shares; (ii) 25,000 Class B Ordinary Shares (the “Class B Ordinary Shares”); and (iii) 5,000,000 Class C Ordinary Shares (the “Class C Ordinary Shares”), each with a par value of US$0.008. The Share Consolidation will reduce the number of issued and outstanding Class A Ordinary Shares from 10,371,518 to approximately 1,037,152, and the number of issued and outstanding Class C Ordinary Shares will be reduced from 6,781,611 to approximately 678,162, in each case subject to adjustment for fractional shares as described below. No Class B Ordinary Shares are issued and outstanding immediately prior to the Share Reorganization.

As a result of the Share Consolidation, the Class A Ordinary Shares and Class C Ordinary Shares held by each shareholder will each be automatically converted into the number of whole shares of the applicable class equal to (i) the number of issued and outstanding shares of that class held by such shareholder immediately prior to the Share Consolidation, divided by (ii) ten (10), without any action on the part of the shareholders. No fractional shares will be issued as a result of the Share Consolidation. Shareholders of record who would otherwise be entitled to receive a fractional share will instead receive one whole share, rounded up to the nearest whole share. For beneficial holders who hold shares through a brokerage firm, fractional shares will be rounded up at the participant level.

About Powell Max Limited

Powell Max Limited is a financial communications services provider headquartered in Hong Kong. The Company maintains a U.S. subsidiary incorporated in Delaware, with corporate staff located in Boca Raton, Florida. The Company engages in the provision of financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Its financial communications services cover a full range of financial printing, corporate reporting, communications and language support services from inception to completion, including typesetting, proofreading, translation, design, printing, electronic reporting, newspaper placement and distribution. The Company’s clients consist of domestic and international companies listed in Hong Kong, together with companies who are seeking to list in Hong Kong, as well as their advisors.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Share Consolidation and its anticipated effects on the Company’s share structure and trading. Words such as “will,” “expects,” “believes,” “intends,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties, and actual results could differ materially from those described herein due to certain risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (the “SEC”). Investors are encouraged to carefully review the cautionary statements and risk disclosures, including those under the heading “Risk Factors” in the Company’s most recent annual report on Form 20-F and other reports filed from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Investors Contact:

IR@PMAXltd.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the effective date of Powell Max (PMAX) 1-for-10 share consolidation?

The consolidation becomes effective at market open on April 17, 2026. According to the company, the change will apply to all issued and outstanding ordinary shares and will adjust share counts and the company CUSIP.

How many Class A shares will Powell Max (PMAX) have after the consolidation?

Issued Class A shares will be reduced to approximately 1,037,152 after the 1-for-10 consolidation. According to the company, the pre-consolidation count of 10,371,518 Class A shares is divided by ten, subject to fractional adjustments.

Why did Powell Max (PMAX) implement the 1-for-10 share consolidation?

The consolidation aims to raise the per-share price above US$1.00 to meet Nasdaq minimum bid requirements. According to the company, this is intended to maintain continued listing on the Nasdaq Capital Market.

Will Powell Max (PMAX) ticker or CUSIP change after the consolidation?

The ticker PMAX remains the same, and a new CUSIP G7200G126 will be assigned. According to the company, trading will continue on the Nasdaq Capital Market under the same symbol with the new CUSIP.

How will fractional shares be handled in the Powell Max (PMAX) consolidation?

No fractional shares will be issued; shareholders entitled to fractions will receive one whole share. According to the company, beneficial holders through brokers will see rounding up at the participant level.

What change occurs to Powell Max's (PMAX) authorized share capital after the consolidation?

Authorized share capital is reduced to a maximum of 55,025,000 total shares post-consolidation. According to the company, this comprises Class A, Class B, and Class C share caps with par value US$0.008.