Chijet Motor (CJET) moves 2025 AGM and adds 1-for-100 reverse split proposal
Rhea-AI Filing Summary
Chijet Motor Company, Inc. filed an amendment to its 2025 Annual General Meeting of Shareholders arrangements. The meeting originally scheduled for September 22, 2025 in Yantai, China has been adjourned to September 25, 2025 at the same location and time.
The company also revised Resolution 1 so shareholders will vote on a proposed reverse stock split, described as a share consolidation under Cayman Islands law, in which up to 100 existing ordinary shares with a par value of US$0.003 per share would be consolidated into 1 ordinary share with a par value of no more than US$0.3 per share.
Positive
- None.
Negative
- None.
Insights
Chijet adds a sizable reverse split proposal to its 2025 shareholder meeting.
Chijet Motor Company, Inc. is changing the agenda and timing of its 2025 shareholder meeting. The meeting moves from
The key substantive change is amending Resolution 1 to propose a reverse stock split, or share consolidation, of up to 100 existing ordinary shares into 1 new share. The par value per share would increase from
The economic effect for shareholders depends on whether the reverse split is approved and how many shares are ultimately consolidated, but the proposal signals a willingness to materially reduce the number of ordinary shares outstanding. Subsequent company communications and the meeting outcome on