GFAI - Guardforce AI executes 1-for-40 reverse stock split

• Guardforce AI ( NASDAQ: GFAI ) announced on Thursday a 1-for-40 reverse stock split of its ordinary shares to aid compliance with Nasdaq's listing rules.
• Every 40 shares of Guardforce AI's ( GFAI ) issued and outstanding ordinary shares of a nominal or par value of US$0.003 each will be automatically converted into 1 issued and outstanding ordinary share of a nominal or par value of US$0.12 each.
• The split was consummated upon passing of the ordinary resolutions on January 31, 2023. The ordinary shares are expected to begin trading on the NASDAQ Capital Market on a post-split basis when the market opens on February 10, 2023.
• The move will reduce the number of ordinary shares issued and outstanding from ~64.8M to ~1.6M.

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