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On July 29, 2025, Anghami Inc., a Cayman Islands exempted company (the "Company"), issued a press release announcing a 1-for-10 reverse stock split of the Company's ordinary shares (the "Reverse Stock Split"). The Reverse Stock Split was approved by the Company's shareholders at the reconvened Extraordinary General Meeting held on July 22, 2025. The primary purpose of the Reverse Stock Split is to regain compliance with the Nasdaq Capital Market's minimum bid price requirement for continued listing. The Reverse Stock Split will not have a dilutive effect on shareholders. The reverse share split will be effected automatically, without any action required on the part of the Company's shareholders.
The reverse share split will become effective after the close of the market on August 1, 2025, and the Company's ordinary shares are expected to begin trading on a split-adjusted basis when the markets open on August 4, 2025 under the Company's existing trading symbol "ANGH" with the new CUSIP number G0369L200.
Upon effectiveness, every ten issued and outstanding ordinary shares will be combined into one issued and outstanding ordinary share. The par value of the ordinary shares will be proportionately increased, from $0.0001 per share to $0.001 per share. Additionally, the conversion or exercise prices of all convertible securities and warrants will be proportionately adjusted in line with the Reverse Stock Split. Shareholders will not receive fractional shares; instead, cash payments will be made in lieu of any fractional shares.
Posted In: ANGH
