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SRIVARU Holding Limited's Form 6-K: Share Consolidation to Boost Nasdaq Compliance

$SVMH
Form 6-K
Filed on: 2025-01-13
Source
SRIVARU Holding Limited's Form 6-K: Share Consolidation to Boost Nasdaq Compliance

Here's a summary of the key information extracted from the financial report:

  1. Company Name: SRIVARU Holding Limited
  2. Filing Type: Form 6-K
  3. Filing Date: January 13, 2025
  4. Effective Date of Action: The company will effect a share consolidation (reverse share split) on January 15, 2025, at a ratio of 50-for-1.
  5. Reason for Share Consolidation: The consolidation is being undertaken to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share as per Marketplace Rule 5450(a)(1).
  6. Trading Information: Post-consolidation, the company's ordinary shares are expected to trade on Nasdaq under the existing ticker symbol "SVMH" beginning January 15, 2025.
  7. Location: The company is incorporated in the Cayman Islands, with its registered office at Genesis House, George Town, Grand Cayman.

This report indicates a significant corporate action aimed at compliance with stock exchange requirements, which could have implications for the company's stock price and investor perception.