India, July 11 -- Premium Catering Holdings Limited (PC) announced that its shareholders approved a reverse stock split at a ratio between 1-for-2 and 1-for-18 during an Extraordinary General Meeting - EGM held today.
Following the vote, the Board of Directors confirmed a 1-for-9 reverse stock split, effective for shareholders of record as of July 21, 2025. The company's ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market starting July 22, 2025, under the existing ticker symbol "PC."
The move aims to help the company meet Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 for continued listing. The Board believes the reverse split is in the best interest of the company and its...