OIO Group approves 1-for-3 reverse stock split

OIO Group (OIO) announced that its board of directors has approved a reverse stock split of the company’s issued and outstanding ordinary shares at a ratio of 1-for-3, which will become effective at 12:01 a.m. Eastern Time on April 24. The reverse stock split will be effected in connection with, and immediately prior to, the concurrent closing of the company’s previously announced business combination with De Tomaso Automobili Holdings Limited and the commencement of trading of the company’s ordinary shares on The Nasdaq Capital Market on a split-adjusted basis under the symbol “OIO”.