TORONTO, May 24, 2024 /PRNewswire/ -- Visionary Holdings Inc. ("we", or the "Company") (NASDAQ: GV), a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China, today announced that it intends to effect a share consolidation of its ordinary shares at a ratio of one (1) post-split ordinary share for every fifteen (15) pre-split ordinary shares (the "Share Consolidation") so that every fifteen (15) shares issued and outstanding will be combined into one (1) share. Any fractional share of a shareholder resulting from the Share Consolidation will be rounded up to the nearest whole number of shares. The Share Consolidation will become effective at 12:01 a.m. EST on May 29, 2024 (the "Effective Time").
The Company's ordinary shares will continue to be traded on the Nasdaq Capital Market ("Nasdaq") under the symbol "GV" and will begin trading on a post-consolidation adjusted basis when the market opens on May 29, 2024. The CUSIP number for the Company's ordinary shares following the Share Consolidation will be 92838F200.
The Share Consolidation is primarily intended to increase the Company's per share trading price in order to maintain its listing on Nasdaq. We believe that the proposed Share Consolidation will assist the Company in regaining compliance under the Nasdaq Listing Rules.
The Share Consolidation will reduce the issued and outstanding number of ordinary shares of the Company from 55,368,883 shares to approximately 3,691,259 shares.
Shareholders holding their shares in book-entry form or in "street name" (through a broker, bank or other holder of record) will have their shares automatically adjusted to reflect the Share Consolidation. Shareholders of record may direct questions concerning the Share Consolidation to the Company's transfer agent, Issuer Direct Corporation.
About Visionary Holdings Inc.
Visionary Holdings Inc. headquartered in Toronto, Canada, a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada through technological innovation so that more people can learn, grow and succeed to their full potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving and will continue to serve both Canadian and international students. For more information, visit the Company's website at https://ir.visiongroupca.com/.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "believes," "expects," "anticipates," "estimates," "intends," "would," "continue," "should," "may," or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's reports and in its other filings with the SEC.
For more information, please contact:
Visionary Holdings Inc.
[email protected]
SOURCE Visionary Holdings Inc.
