WiMi Hologram Cloud Inc
For the period ended Apr 10, 2025. Filed Apr 10, 2025.
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Apr 10, 2025 · Filed Apr 10, 2025
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EX-99.1 · Reverse Share Split
Reverse Share Split
As previous disclosed, on March 25, 2025, in an Extraordinary General Meeting of the Shareholders, the shareholders of WiMi approved the proposed 1-for-20 reverse share split and increase of authorized share capital. The Company announced the results of Extraordinary General Meeting by way of press release on March 27, 2025.
Effective as of the commencement of trading on April 14, 2025, the reverse share split will consolidate every twenty (20) existing ordinary shares into one (1) new ordinary share. This corporate action will result in a proportionate reduction in the total number of WiMi’s outstanding ordinary shares.
The Board of Directors of the Company noted that one of the reasons for effecting the Reverse Share Split is to facilitate the Company’s adherence to the Nasdaq minimum bid price requirement.
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