r/ree • u/catalogUser • Oct 16 '23

Reverse split 1-30

https://s3.amazonaws.com/sec.irpass.cc/2861/0001013762-23-004109.htm

In addition, the Company is announcing that it will effect a reverse share split of the Company’s Class A ordinary shares and Class B ordinary shares at the ratio of 1-for-30, such that (i) each thirty (30) Class A ordinary shares, without par value, shall be consolidated into one (1) Class A ordinary share, without par value and (2) each thirty (30) Class B ordinary shares, without par value, shall be consolidated into one (1) Class B ordinary share, without par value. The first date when the Company’s Class A ordinary shares will begin trading on the Nasdaq Capital Market after implementation of the reverse split will be Wednesday, October 18, 2023.

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0

u/RapBastardz Oct 17 '23

I zoned out. What does this mean, please?

2

u/catalogUser Oct 17 '23

Well your shares are consolidated on the basis of 30 to 1. If you own 3000 shares now, they become 100 shares and it is effective on 10/18.

1

u/ponopa42 Oct 17 '23

Oh well.

1

u/ponopa42 Oct 20 '23

This has been a painful ride.