Zapp ev announces reverse stock split

London, april 16, 2024 (globe newswire) -- zapp electric vehicles group limited (nasdaq: zapp) (“zapp ev” or the “company”), owner of “zapp”, the british electric vehicle brand on a mission to revolutionize personal urban mobility, today announced that its shareholders approved at the company's annual general meeting on april 11, 2024, and that the company will effect, a consolidation of its authorized share capital at a ratio of 1-for-20 (the “reverse stock split”), in order that the share capital of the company be amended from us$50,000 divided into 500,000,000 ordinary shares of a nominal or par value of us$0.0001 to us$50,000 divided into 25,000,000 ordinary shares of a nominal or par value of us$0.002 (the latter, the “new ordinary shares”). the reverse stock split will be effective at 4:01 p.m.
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