Republic Power Group Limited Announces 1-For-16 Reverse Share Split, tell me about this news in (https://www.manilatimes.net/2026/09/23/tmt-newswire/globenewswire/republic-power-group-limited-announces-1-for-16-reverse-share-split/2431491)

On September 23, 2026, Republic Power Group Limited (NASDAQ: RPGL), a Singapore-based provider of enterprise resource planning (ERP) software solutions and IT services, announced that it will execute a 1-for-16 reverse share split of its Class A and Class B ordinary shares.

Key details from the announcement include:

• Effective Date: The reverse split takes effect at the market open on September 25, 2026, when Class A ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market.

• Ticker & CUSIP: The shares will continue to trade under the ticker symbol “RPGL” under a new CUSIP number (G7523E139).

• Share Count & Par Value: The split reduces the number of issued and outstanding Class A ordinary shares from 16,705,568 to approximately 1,044,098 shares. The par value adjusts from $0.50 to $8.00 per share.

• Fractional Shares: No fractional shares will be issued; any fractional entitlements will be rounded up to the nearest whole share.

• Purpose: The reverse split is primarily intended to raise the per-share market price to regain and maintain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share for continued listing.

• Shareholder Action: Shareholders who hold their shares electronically in brokerage accounts or book-entry form do not need to take any action. Transhare Corporation is serving as the exchange and paying agent.