Zapp EV Announces Reverse Stock Split
LONDON, April 16, 2024 (GLOBE NEWSWIRE) — Zapp Electric Vehicles Group Limited (Nasdaq:ZAPP) (“Zapp EV” or the “Company”), owner of “Zapp”, the British electric vehicle brand on a mission to revolutionize personal urban mobility, today announced that its shareholders approved at the Company’s annual general meeting on April 11, 2024, and that the Company will effect, a consolidation of its authorized share capital at a ratio of 1-for-20 (the “Reverse Stock Split”), in order that the share capital of the Company be amended from US$50,000 divided into 500,000,000 ordinary shares of a nominal or par value of US$0.0001 to US$50,000 divided into 25,000,000 ordinary shares of a nominal or par value of US$0.002 (the latter, the “New Ordinary Shares”).