SPI Energy Co., Ltd. Announces 10-for-1 Share Consolidation
November 07 2017 - 12:30PM
SPI Energy Co., Ltd. (“SPI Energy” or the “Company”)
(Nasdaq:SPI), a global clean energy market place for business,
residential, government and utility customers and investors, today
announced a 10-for-1 share consolidation, effective as of the close
of business on November 6, 2017. Beginning on November 8, 2017, the
Company’s ordinary shares will trade on the NASDAQ on
post-consolidation basis.
At the Company’s extraordinary general meeting,
the shareholders of the Company considered and passed an ordinary
resolution authorizing that each ten ordinary shares, par value of
US$0.000001, be consolidated into one ordinary share, par value of
US$0.00001. As a result of the share consolidation, each 10
pre-consolidation ordinary shares outstanding will automatically
combine into one ordinary share of the Company without any action
on the part of the respective holders holding shares in a brokerage
account. No fractional shares will be issued as a result of
the share consolidation, and shareholders who otherwise would be
entitled to a fractional share will receive, in lieu thereof, a
cash payment which will equal the product obtained by multiplying
(a) the fraction to which the shareholder would otherwise be
entitled; by (b) the average closing bid price of the ordinary
shares of the Company for the five business days immediately
preceding November 6, 2017, adjusted for the share consolidation
ratio. When the share consolidation becomes effective, the number
of authorized shares of the Company’s ordinary shares will decrease
to 5,000,000,000, while the number of issued and outstanding
ordinary shares will be reduced from 725,067,164 to approximately
72,506,716.
The Company’s post-consolidation ordinary shares
will continue to trade on the NASDAQ under the symbol “SPI” but
under a new CUSIP number of G8651P 201.
The Company's transfer agent, Computershare,
will provide instructions to shareholders holding shares in
certificate form regarding the process for exchanging
shares.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV)
solutions for business, residential, government and utility
customers and investors. SPI Energy focuses on the EPC/BT, storage
and O2O PV market including the development, financing,
installation, operation and sale of utility-scale and residential
PV projects in China, Japan, Europe and North America. The Company
operates an online energy e-commerce and investment platform in
China, as well as B2B e-commerce platform offering a range of PV
and storage products in Australia. The Company has its operating
headquarters in Hong Kong and maintains global operations in Asia,
Europe, North America and Australia.
For additional information, please visit:
http://investors.spisolar.com
For investors and media inquiries please
contact:
SPI Energy Co., Ltd.IR DepartmentEmail: ir@spisolar.comSPI
Energy Co., Ltd.
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