Feb 06, 2026 (MarketLine via COMTEX) --
Davis Commodities Limited said shareholders approved a share consolidation at an Extraordinary General Meeting held on February 4, 2026 in Singapore.
Davis Commodities Limited ("Davis Commodities" or the "Company") announced that shareholders have approved a share consolidation proposal at an Extraordinary General Meeting (EGM) held on February 4, 2026, at Genting Hotel Jurong in Singapore. The measure is aimed at increasing the Company's share price, regaining compliance with minimum bid price requirements, enhancing market credibility and investor confidence, and moderating excessive share price volatility.
?The approved resolution authorized the consolidation of both Class A and Class B ordinary shares of the Company. The board of directors resolved on February 5, 2026 to implement the share consolidation at a ratio of 20-for-1 with immediate effect. The effective date of the trading of the consolidated shares on the Nasdaq Capital Market ("Nasdaq") is expected to be on or about February 16, 2026 subject to confirmation by Nasdaq and the completion of the relevant procedures. The board is also authorized to deal with any fractional entitlements arising from the share consolidation, including by capitalizing reserves or profits and issuing additional shares where necessary to round up fractional holdings.
?The resolution further grants the directors broad authority to take all steps required to implement the share consolidation, including any related corporate actions. Shareholders were able to vote either by proxy, via internet or mail, or in person at the EGM, with the ordinary resolution requiring a simple majority of votes cast by Class A and Class B shareholders voting together as a single class.
?The proposal passed with strong support. Holders of Class A ordinary shares cast 121,876 votes in favor, 137,089 against and 1,850 abstentions, while Class B shareholders—whose votes carry 30 votes per share—cast 495,449,430 votes in favor and none against. In total, 495,571,306 votes were cast for the resolution, 137,089 against and 1,850 abstentions, representing 97.91% of the 506,305,124 votes attached to the Company's issued and outstanding shares.
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COMTEX_474441588/2227/2026-03-01T04:53:55
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