0001213900-26-043772
SEC filingPowell Max Limited announced a 1-for-10 share consolidation effective April 17, 2026, to meet Nasdaq's US$1.00 minimum bid price requirement, reducing authorized shares to 55,025,000 and issued Class A shares to approximately 1,037,152.
Powell Max Limited's 1-for-10 share consolidation directly addresses Nasdaq Capital Market's minimum bid price compliance requirement, a critical step to avoid delisting risks that could impair liquidity and investor access. The consolidation proportionally reduces issued Class A shares from over 10 million to about 1 million and Class C shares from nearly 7 million to around 678,000, while shrinking authorized capital from 550 million to 55 million shares across three classes. This maintains the multi-class structure with Class A (1 vote), high-voting Class B (20 votes, convertible upon transfer), and non-voting Class C (convertible based on purchase price, floor price, and 80% of recent trading prices, capped at 4.99% ownership). The Sixth Amended and Restated Memorandum, adopted by directors on April 13, 2026, formalizes these changes under BVI law, updating registered office and agent details. Fractional share rounding up prevents dilution for small holders. Trading continues under PMAX with new CUSIP G7200G126 from market open on April 17. This action signals proactive governance amid compliance pressures, potentially stabilizing share price while preserving control mechanisms via Class B/C shares.