EZGO Technologies announces reverse split

EZGO Technologies (EZGO) announced that on November 7 its board of directors approved a reverse split of its ordinary shares on a one-for-twenty-five basis, and a change in par value of its ordinary shares to no par value. The Company’s ordinary shares will begin trading on a post-split basis on November 21. As a result of the Reverse Share Split, each twenty-five pre-split ordinary shares of the Company will be automatically combined into one ordinary share without any action on the part of the holders, with par value of the ordinary shares of the Company being changed from 4c per share to no per share, and the Company’s issued and outstanding ordinary shares will be reduced from 21,700,706 to approximately 868,029. The Company’s ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol “EZGO” under a new CUSIP number – G5279F201. The Reverse Share Split is intended to increase the market price per share of the Company’s ordinary shares to allow the Company to maintain its Nasdaq listing.