GlobeNewswire·Oct 30, 2026, 9:00 AM ET

Alps Group Inc Announces Shareholder Approval for a Share Consolidation, Share Capital Increase, and Adoption of Second Amended and Restated Memorandum and Articles of Association

ALPS

Alps Group Inc shareholders approved a one-for-five share consolidation, an increase in authorized share capital, and adoption of the Second Amended and Restated Memorandum and Articles of Association at the October 30, 2026 EGM.
The Share Consolidation reduces the total number of ordinary shares from 495,000,000 to 99,000,000 and preferred shares from 5,000,000 to 1,000,000, while adjusting par values from US$0.0001 to US$0.0005.
The subsequent Share Capital Increase raises the authorized share capital from US$50,000 to US$105,000, expanding the total authorized shares to 210,000,000 comprising 200,000,000 ordinary shares and 10,000,000 preferred shares.
The Authorized Share Capital Changes become effective at market open on November 9, 2026, with the stock continuing to trade under the symbol "ALPS" on the Nasdaq Global Market.
The new CUSIP number for the Company's ordinary shares post-consolidation is G0231P124.
Outstanding ordinary shares will decrease from 158,400,314 to approximately 31,680,063, with fractional shares rounded up to the next whole share and no change to shareholder voting power or proportionate ownership.
Warrant terms will be adjusted to proportionately reduce the number of underlying ordinary shares while proportionately increasing the exercise price.
Continental Stock Transfer & Trust Company acts as the exchange agent to notify electronic shareholders of record, while broker-held positions will be adjusted automatically without shareholder action.
The Company, a Malaysia-headquartered integrated biotechnology platform, aims to use revenue from commercial operations to support clinical pipeline development across Southeast Asia.