Galaxy Payroll Group Limited (Nasdaq: GLXG) has announced a consolidation of all issued and unissued ordinary shares at a ratio of ten shares to one share of the same class. The Share Consolidation, approved unanimously by the Board of Directors, will be effective at 12:01 a.m. ET on September 8, 2025, with the company's ordinary shares beginning to trade on the Nasdaq Capital Market on a consolidation-adjusted basis at market opening that same day.
The consolidation applies to both Class A and Class B ordinary shares, with the par value per share increasing from US$0.000625 to US$0.00625 following the process. This action will reduce the number of outstanding ordinary shares from 21,615,000 to approximately 2,161,500. No fractional shares will be issued; instead, the company will issue one full post-consolidation ordinary share to any shareholder at a participant level who would have been entitled to receive a fractional share.
Mr. Wai Hong Lao, Chairman and Chief Executive Officer of Galaxy Payroll Group, stated that the share consolidation represents an important step in optimizing the company's capital structure as it positions for future growth opportunities. The action will streamline the share structure while maintaining the proportional rights and economic interests of all shareholders. The company's memorandum and articles of association will be amended to reflect these changes.
The company's ordinary shares will continue to trade on the Nasdaq Capital Market under the trading symbol "GLXY" but will trade under the new CUSIP number G37692 111. The Share Consolidation was approved pursuant to the British Virgin Islands Business Companies Act and the company's amended and restated memorandum and articles of association. For more information, please visit https://www.galaxypayrollgroup.com.
