Golden Sun Health Technology Group Limited Announces 1-for-10 Share Consolidation
17 April 2024 - 2:00PM
Golden Sun Health Technology Group Limited, formerly known as
Golden Sun Education Group Limited (the “Company” or “Golden Sun”)
(Nasdaq: GSUN), a provider of tutorial services in China, today
announced that the shareholders of the Company had approved a
proposed 1-for-10 share consolidation of the Company’s ordinary
shares (the "Share Consolidation") at an extraordinary general
meeting of shareholders (the “Meeting”) held on April 11, 2024, at
8th Floor, Administration Building, 390 East Tiyuhui Road, Hongkou
District, Shanghai, China.
At the opening of trading on April 19, 2024, the
Company's class A ordinary shares will begin trading on a
post-Share Consolidation basis on the Nasdaq Stock Market under the
same symbol "GSUN", but under a new CUSIP number of G4013A115. The
primary objective of the Share Consolidation is to enable the
Company to regain compliance with Nasdaq Listing Rule 5550(a)(2)
relating to the minimum bid price per share of the Company's Class
A ordinary shares.
As a result of the Share Consolidation, every
ten issued and outstanding ordinary shares of a par value of
US$0.0005 each will be consolidated into one issued and outstanding
ordinary share of a par value of US$0.005 each. No fractional
shares will be issued; instead, any fractional shares that would
have resulted from the Share Consolidation will be rounded up to
the next whole number. The Share Consolidation affects all
shareholders uniformly and will not alter any shareholder's
percentage interest in the Company's outstanding ordinary shares,
except for adjustments that may result from the rounding up of
fractional shares.
About Golden Sun Health Technology Group
Limited
Established in 1997 and headquartered in
Shanghai, China, Golden Sun Health Technology Group Limited,
formerly known as Golden Sun Education Group Limited, is a provider
of tutorial services in China with over twenty years of experience
providing educational services that focus on the development of
each of its student’s strengths and potential, and the promotion of
life-long skills and interests in learning. Golden Sun has three
tutorial centers, one educational company that partners with high
schools to offer language classes, and one logistics company that
provides logistic and consulting services. The tutorial centers of
Golden Sun focus on different groups of targeted students by
offering different tutorial programs. For more information, visit
the Company’s website at ir.jtyjyjt.com.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as “approximates,” “assesses,” “believes,”
“hopes,” “expects,” “anticipates,” “estimates,” “projects,”
“intends,” “plans,” “will,” “would,” “should,” “could,” “may” or
similar expressions. The Company undertakes no obligation to update
or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's annual
report and other filings with the U.S. Securities and Exchange
Commission.
For more information, please contact:
Golden Sun Health Technology Group
LimitedInvestor Relations DepartmentEmail:
ir@cngsun.com
Ascent Investor Relations LLCTina
XiaoPresidentPhone: +1 646-932-7242Email:
investors@ascent-ir.com
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