GAITHERSBURG, Md. , Sept. 27, 2024 /PRNewswire/ -- LakeShore Biopharma Co.
, Ltd (Nasdaq: LSB ) ("LakeShore Biopharma" or the "Company"), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced the results of its extraordinary general meeting (the "EGM") held on September 27, 2024 (Beijing Time) virtually via a Zoom video conference call. The EGM was called as part of the Company's efforts to regain compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1). The Company's shareholders voted in favor of each of the following resolutions: With effect from October 1, 2024 , to consolidate every 10 (ten) ordinary shares, par value of US$0.
00002 each (whether issued or unissued), into 1 (one) ordinary share, par value of US$0.0002 each (the "Share Consolidation"), such that following the Share Consolidation, the authorized share capital of the Company shall be changed FROM US$50,000 divided into 2,500,000,000 ordinary shares of a par value of US$0.00002 each TO US$50,000 divided into 250,000,000 ordinary shares of a par value of US$0.
0002 each; and no fraction of a share shall be issued by virtue of the Share Consolidation, and all fractions of shares resulting from the Share Consolidation will be rounded up to the nearest whole number of shares and each shareholder that would otherwise be so e.
