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Skyline Builders Group Holding Limited (NASDAQ:SKBL) (the "Company"), a civil engineering services provider in Hong Kong, today announced that on August 24, 2025, its Board of Directors approved a proposal to consolidate the Company's authorized, issued, and outstanding shares ("Share Consolidation"). The proposal will be presented for shareholder approval at an upcoming extraordinary general meeting.
Under the proposal to be presented at the upcoming extraordinary general meeting, shareholders will be asked to approve the consolidation of the Company's authorized, issued, and outstanding shares at a ratio of ten (10) ordinary shares into one (1), or at such lesser whole number as the Board may determine in its sole discretion, but not fewer than two (2) shares into one (1). If approved, the Board will set the final consolidation ratio and effective date, with the Share Consolidation to be implemented within one year of shareholder approval. The consolidated shares will retain the same rights and restrictions as existing shares, other than par value.
No fractional shares will be issued as a result of the Share Consolidation. Any resulting fractional shares will be rounded up to the nearest whole share, ensuring that no fractional ordinary shares remain outstanding.
If the Share Consolidation is implemented, any changes to the Company's trading symbol or CUSIP number on the NASDAQ Capital Market will be announced in a separate notice.
Further details regarding the extraordinary general meeting will be provided in the proxy statement and notice of meeting to be distributed to shareholders.
Posted In: SKBL
