Kandal M Venture Limited Extraordinary General Meeting of Shareholders

Kandal M Venture Limited is holding an Extraordinary General Meeting (EGM) on July 9, 2026, to vote on a proposed share consolidation. The EGM will be held in a hybrid format, allowing for both physical and virtual attendance. The primary purpose of the share consolidation is to increase the bid price per share to comply with Nasdaq's Continued Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00. The proposed consolidation ratio is 16:1, meaning every sixteen existing shares will be consolidated into one new share. The board of directors believes this measure is necessary for the company's continued listing on the Nasdaq Capital Market and to improve the marketability of its shares. Shareholders will also grant the board authority to determine the effective date of the consolidation, which must be no later than September 30, 2026. The company has applied for an extension from Nasdaq and is awaiting approval. The filing details the voting procedures, quorum requirements, and the potential risks and effects of the share consolidation, emphasizing that it is not intended as a "going private" transaction.