TIAN RUIXIANG Holdings Ltd. Announces 1-for-5 Share Consolidation
08 Mai 2024 - 10:30PM
TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the
"Company"), a China-based insurance broker conducting business
through its variable interest entity in China, today announced
that the Company held an extraordinary general meeting of
shareholders on Monday, May 6, 2024, at which the shareholders
approved the proposal for a 1-for-5 reverse share split of the
Company's ordinary shares (the "Share Consolidation"). No
fractional shares will be issued in connection with the Share
Consolidation, and all fractional shares (after aggregating all
fractional shares that would otherwise be received by a
shareholder) resulting from the Share Consolidation will be rounded
up to the whole number of shares.
At the opening of trading on May 14, 2024, the
Company's class A ordinary shares will begin trading on a
post-Share Consolidation basis on the Nasdaq Stock Market under the
symbol “TIRX”, with a new CUSIP number of G8884K128. The Share
Consolidation is being effectuated primarily to regain compliance
with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum bid
price per share of the Company's Class A ordinary shares.
About TIAN RUIXIANG Holdings
LtdTIAN RUIXIANG Holdings Ltd, headquartered
in Beijing, China, is an insurance broker operating
in China through its China-based variable interest
entity. It distributes a wide range of insurance products, which
are categorized into two major groups: (1) property and casualty
insurance, such as automobile insurance, commercial property
insurance, liability insurance; and (2) other insurance, such as
life insurance and health insurance. For more information, visit
the company's website at http://ir.tianrx.com/.
Forward-Looking
StatementsCertain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review risk factors that may affect its future results in the
Company's registration statement and in its other filings with
the U.S. Securities and Exchange Commission.
For investor and media enquiries, please
contact:
TIAN RUIXIANG Holdings
LtdInvestor Relations
DepartmentEmail: ir@tianrx.com
WFS Investor Relations
Inc.Connie Kang,
PartnerEmail: ckang@wealthfsllc.comTel: +86 1381 185 7742
(CN)
Tian Ruixiang (NASDAQ:TIRX)
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