Basel Medical Group Announces 1-for-12 Reverse Share Split to Regain Nasdaq Compliance

Basel Medical Group Ltd (Nasdaq: BMGL), a Singapore-based medical clinic operator, announced a 1-for-12 reverse share split effective June 22, 2026. The board-approved consolidation aims to bring the company back into compliance with Nasdaq Marketplace Rule 5550(a)(2), which requires a minimum bid price of $1 per share. The reverse split will reduce outstanding shares from approximately 18.8 million to about 1.6 million. Trading will continue under the same "BMGL" symbol but with a new CUSIP number (G0864B111). No shareholder approval is required under British Virgin Islands law, where the company is incorporated. The company operates orthopedic, trauma, sports medicine, neurosurgical, and general medical services across multiple Singapore locations.