Alps Group Inc ("Alps" or "the Company") (NASDAQ:ALPS), an integrated biotechnology platform headquartered in Malaysia, today announced that its shareholders approved, in accordance with Cayman Islands law, all of the proposals submitted at the Company’s Extraordinary General Meeting held on October 30, 2026 (the "EGM").
At the EGM, the Alps shareholders approved (i) a share consolidation of the Company’s ordinary shares and its preferred shares at a ratio of one-for-five, whereby every five shares consolidated into one (the "Share Consolidation"); (ii) an increase in the Company’s authorized share capital (the "Share Capital Increase"); and (iii) the adoption of the Second Amended and Restated Memorandum and Articles of Association.
As a result of the Share Consolidation, the Company’s authorized share capital will be consolidated at a ratio of one-for-five, such that the existing share capital is consolidated from US$50,000 divided into 500,000,000 shares comprising (i) 495,000,000 ordinary shares with a par value of US$0.0001 each (the "Ordinary Shares") and (ii) 5,000,000 preferred shares with a par value of US$0.0001 each (the "Preferred Shares") to US$50,000 divided into 100,000,000 shares comprising (i) 99,000,000 Ordinary Shares with a par value of US$0.0005 each and (ii) 1,000,000 Preferred Shares with a par value of US$0.0005 each.
Immediately following the Share Consolidation being effected, as a result of the Share Capital Increase, the authorized share capital of the Company will be increased from US$50,000 divided into 100,000,000 shares comprising (i) 99,000,000 Ordinary Shares with a par value of US$0.0005 each and (ii) 1,000,000 Preferred Shares with a par value of US$0.0005 each to US$105,000 divided into 210,000,000 shares comprising (i) 200,000,000 Ordinary Shares with a par value of US$0.0005 each and (ii) 10,000,000 Preferred Shares with a par value of US$0.0005 each. The Share Consolidation and the Share Capital Increase are together referred to as the "Authorized Share Capital Changes".