Springview to effect 1-for-8 reverse stock split on December 2

Springview (SPHL) approved a reverse split of its Class A ordinary shares on a one-for-eight basis and a change in par value of its Class A ordinary shares from 0.01c to 0.08c. The company’s Class B ordinary shares are not affected by the Reverse Share Split. The company’s Class A ordinary shares will begin trading on a post-split basis on December 2. The company’s issued and outstanding Class A ordinary shares will be reduced from 13,217,629 to approximately 1,652,204. The company’s Class A ordinary shares will continue to trade on Nasdaq under the symbol “SPHL” under a new CUSIP number – G83761117. The Reverse Share Split is intended to increase the market price per share of the company’s Class A ordinary shares to allow the company to maintain its Nasdaq listing.