Kaixin Holdings Announces Extraordinary General Meeting Results
Kaixin Holdings (NASDAQ: KXIN) announced that all resolutions presented at its extraordinary general meeting on October 1, 2024, were duly passed. The company will implement and announce the effectiveness of a Share Consolidation, primarily to regain compliance with Nasdaq's minimum price per share rule.
Key points:
- Share Consolidation aims to meet Nasdaq Marketplace Rule 5550(a)(2)
- Shareholders' percentage ownership will remain largely unchanged
- No fractional shares will be issued; fractional shares will be rounded up
- Shareholders with electronic holdings need not take action
Kaixin Holdings is a leading new energy vehicle manufacturer in China, focusing on electric passenger and logistics vehicles. The company aims to build a competitive international market position and contribute to carbon neutrality goals.
Kaixin Holdings (NASDAQ: KXIN) ha annunciato che tutte le delibere presentate durante l'assemblea generale straordinaria del 1 ottobre 2024 sono state approvate regolarmente. L'azienda implementerà e annuncerà l'efficacia di una Consolidamento delle Azioni, principalmente per ripristinare la conformità con la regola del prezzo minimo per azione di Nasdaq.
Punti chiave:
- Il Consolidamento delle Azioni mira a soddisfare la regola 5550(a)(2) del Marketplace di Nasdaq
- La percentuale di proprietà degli azionisti rimarrà sostanzialmente invariata
- Non verranno emesse azioni frazionarie; le azioni frazionarie saranno arrotondate
- Gli azionisti con partecipazioni elettroniche non devono intraprendere alcuna azione
Kaixin Holdings è un leader nella produzione di veicoli a energia nuova in Cina, concentrandosi su veicoli elettrici passeggeri e logistici. L'azienda mira a costruire una posizione competitiva nel mercato internazionale e a contribuire agli obiettivi di neutralità carbonica.
Kaixin Holdings (NASDAQ: KXIN) anunció que todas las resoluciones presentadas en su reunión general extraordinaria del 1 de octubre de 2024 fueron aprobadas debidamente. La compañía implementará y anunciará la efectividad de una Consolidación de Acciones, principalmente para recuperar el cumplimiento con la regla del precio mínimo por acción de Nasdaq.
Puntos clave:
- La Consolidación de Acciones tiene como objetivo cumplir con la Regla 5550(a)(2) del Marketplace de Nasdaq
- El porcentaje de propiedad de los accionistas permanecerá en gran parte sin cambios
- No se emitirán acciones fraccionarias; las acciones fraccionarias serán redondeadas
- Los accionistas con participaciones electrónicas no necesitan tomar ninguna acción
Kaixin Holdings es un fabricante líder de vehículos de energía nueva en China, centrado en vehículos eléctricos de pasajeros y de logística. La compañía busca construir una posición competitiva en el mercado internacional y contribuir a los objetivos de neutralidad de carbono.
Kaixin Holdings (NASDAQ: KXIN)은 2024년 10월 1일 열린 임시 총회에서 제출된 모든 결의안이 정상적으로 통과되었다고 발표했습니다. 회사는 Nasdaq의 주당 최소 가격 규정을 준수하기 위해 주식 통합의 효력을 시행하고 발표할 예정입니다.
주요 사항:
- 주식 통합은 Nasdaq 마켓플레이스 규칙 5550(a)(2)를 충족하는 것을 목표로 합니다.
- 주주들의 소유 비율은 대체로 변동이 없습니다.
- 부분 주식은 발행되지 않으며, 부분 주식은 올림 처리됩니다.
- 전자 보유 주주들은 아무런 조치를 취할 필요가 없습니다.
Kaixin Holdings는 중국의 선도적인 신에너지 자동차 제조업체로, 전기 승용차 및 물류 차량에 중점을 두고 있습니다. 회사는 경쟁력 있는 국제 시장 지위를 구축하고 탄소 중립 목표에 기여하는 것을 목표로 하고 있습니다.
Kaixin Holdings (NASDAQ: KXIN) a annoncé que toutes les résolutions présentées lors de son assemblée générale extraordinaire le 1er octobre 2024 ont été approuvées régulièrement. La société mettra en œuvre et annoncera l'efficacité d'une Consolidation d'Actions, principalement pour retrouver la conformité avec la règle du prix minimum par action de Nasdaq.
Points clés:
- La Consolidation d'Actions vise à respecter la règle 5550(a)(2) du Marché de Nasdaq
- Le pourcentage de propriété des actionnaires restera pour l'essentiel inchangé
- Aucune action fractionnée ne sera émise ; les actions fractionnées seront arrondies
- Les actionnaires possédant des participations électroniques n'ont pas besoin de prendre de mesures
Kaixin Holdings est un fabricant leader de véhicules à énergie nouvelle en Chine, se concentrant sur les véhicules électriques de passagers et de logistique. La société vise à établir une position concurrentielle sur le marché international et à contribuer aux objectifs de neutralité carbone.
Kaixin Holdings (NASDAQ: KXIN) gab bekannt, dass alle Beschlüsse, die auf der außerordentlichen Hauptversammlung am 1. Oktober 2024 vorgestellt wurden, ordnungsgemäß angenommen wurden. Das Unternehmen wird die Wirksamkeit einer Aktienkonsolidierung umsetzen und bekanntgeben, um hauptsächlich die Einhaltung der Regel für den Mindestpreis pro Aktie von Nasdaq wiederzuerlangen.
Hauptpunkte:
- Die Aktienkonsolidierung zielt darauf ab, die Nasdaq-Marktplatzregel 5550(a)(2) zu erfüllen
- Der prozentuale Besitz der Aktionäre bleibt weitgehend unverändert
- Es werden keine Bruchstücke von Aktien ausgegeben; Bruchstücke werden aufgerundet
- Aktionäre mit elektronischen Beständen müssen keine Maßnahmen ergreifen
Kaixin Holdings ist ein führender Hersteller von Fahrzeugen mit neuer Energie in China, der sich auf elektrische Passagier- und Logistikfahrzeuge konzentriert. Das Unternehmen zielt darauf ab, eine wettbewerbsfähige internationale Marktposition aufzubauen und zu den Zielen der Kohlenstoffneutralität beizutragen.
- All resolutions at the extraordinary general meeting were passed
- Share Consolidation to help regain compliance with Nasdaq listing requirements
- Company's status as a leading new energy vehicle manufacturer in China
- Need for Share Consolidation indicates previous non-compliance with Nasdaq minimum price rule
HANGZHOU, China, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Kaixin Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that all resolutions presented to the shareholders at its extraordinary general meeting held on October 1, 2024 (the “Extraordinary General Meeting”) were duly passed.
The full text of each resolution was included in the notice of the Extraordinary General Meeting, which was filed with the Securities and Exchange Commission (the “SEC”) on Form 6-K on August 13, 2024 and subsequently amended on Form 6-K/A on August 23, 2024 and September 3, 2024. The full text of each resolution is also available on the Company’s website ir.kaixin.com. Capitalized terms not otherwise defined in this announcement shall have the meanings assigned to them in the Company’s amended notice of the Extraordinary General Meeting dated September 3, 2024.
The Company will implement and announce the effectiveness of the Share Consolidation afterwards. The Share Consolidation is primarily being effectuated to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum price per share of the Company’s ordinary shares. Immediately after the Share Consolidation, each shareholder’s percentage ownership interest in the Company will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of ordinary shares will be substantially unaffected by the Share Consolidation. No fractional shares will be issued in connection with the Share Consolidation, in the event that a shareholder would otherwise be entitled to receive a fractional share upon the Share Consolidation, the number of shares to be received by such shareholder will be rounded up to one ordinary share in lieu of the fractional share that would have resulted from the Share Consolidation. Shareholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Share Consolidation will automatically be reflected in their brokerage accounts.
About Kaixin Holdings
Kaixin Holdings is a leading new energy vehicle manufacturer in China, equipped with professional teams with rich experience in R&D, production, marketing, and production facilities with the capacity for stamping, welding, painting, and assembly operations. Kaixin produces multiple electric passenger and logistics vehicle models. The Company is committed to building up a competitive international market position that integrates online and offline presence and diversified business operations. Leveraging the expertise of its professional teams and driven by the inspiration for innovation and sustainability, Kaixin aims to contribute to achieving the goals of “peak carbon emissions and carbon neutrality”.
Safe Harbor Statement
This announcement may contain forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or other similar expressions. Statements that are not historical facts, including statements about Kaixin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our goals and strategies; our future business development, financial condition and results of operations; our expectations regarding demand for and market acceptance of our services; our expectations regarding the retention and strengthening of our relationships with auto dealerships; our plans to enhance user experience, infrastructure and service offerings; competition in our industry in China; and relevant government policies and regulations relating to our industry. Further information regarding these and other risks is included in our other documents filed with the SEC. All information provided in this announcement and in the attachments is as of the date of this announcement, and Kaixin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Kaixin Holdings
Investor Relations
Email: ir@kaixin.com
FAQ
What was the purpose of Kaixin Holdings' (KXIN) extraordinary general meeting on October 1, 2024?
How will the Share Consolidation affect Kaixin Holdings (KXIN) shareholders?
What is Kaixin Holdings' (KXIN) main business focus?
