Kingold Jewelry Announces 1:6 Reverse Stock Split of Common Stock
KINGOLD JEWELRY INC (KGJI)
US:NASDAQ Investor Relations:
kingoldjewelry.com/s/investors.asp
Company Research
Source: PR Newswire
WUHAN CITY, China, Oct. 21, 2019 /PRNewswire/ -- Kingold Jewelry, Inc. ("Kingold" or the "Company") (NASDAQ: KGJI), one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced, the Board of Directors and a majority of the shareholders of Kingold, approved on September 26, 2019 and October 7, 2019, respectively, a 1-for-6 reverse stock split of the Company's issued and outstanding shares of common stock (the "Reverse Stock Split"). As of October 21, 2019 (immediately prior to the Effective Date), there were 66,113,502 shares of common stock outstanding. As a result of the Reverse Stock Split, there are approximately 11,018,917 shares of common stock outstanding (subject to adjustment due to the effect of rounding fractional shares into whole shares). The Reverse Stock Split will not have any effect on the stated par value of the common stock. The Company has included additional detail in regards
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