NFT Limited implements 1 for 80 reverse share split

NFT Ltd. approved a 1-for-80 reverse share split of its Class A and Class B ordinary shares on April 23, following shareholder approval on April 17 of a reverse split at a ratio of up to 1-for-200. The reverse split is expected to become effective on or about May 18. Upon the effectiveness of the Reverse Split, NFT shareholders will receive one new ordinary share of NFT for every 80 shares they hold. NFT’s Class A ordinary shares are expected to begin trading on a split-adjusted basis when the market opens on May 18 with a new par value of 4c per share. The Class A ordinary shares will continue to trade on the NYSE American under the symbol “MI” with the new CUSIP number, G6363T123. Effecting the Reverse Split will reduce the share amount to approximately 230,986 Class A ordinary shares and 0 Class B ordinary shares outstanding.