KUALA LUMPUR, MALAYSIA, 28 August 2024 – AGAPE ATP Corporation (NASDAQ: ATPC) (“Agape” or “the Company”,) today announced the filing of a Certificate of Change with the Secretary of State of Nevada, effective on August 30, 2024, for a 1-for-20 reverse stock split of its shares of common stock, as disclosed in its filings with the Securities and Exchange Commission. The Company’s common stock will begin trading on a split-adjusted basis when the market opens on August 30, 2024. The number of authorized shares of Agape common stock is reduced from 1,000,000,000 to 50,000,000.
The Company’s shares of common stock will continue to trade on the NASDAQ under the symbol “ATPC” but will trade under a new CUSIP number. The reverse stock split is intended to increase the market price per share of the Company’s common stock in order to comply with NASDAQ’s continued listing standards relating to minimum price per share.
Prof Dato’ Sri Dr How Kok Choong, Founder and Global Group CEO of Agape ATP Corporation, commented, “Agape ATP Corporation is steadfast in our commitment to taking all necessary steps to meet the listing requirements of the NASDAQ exchange. By implementing this reverse stock split, we are positioning our company to better meet the market’s expectations and strengthen our presence on a premier global exchange. This strategic move is designed to enhance our share price, ensuring we maintain our listing, which is crucial for continued growth, attracting new investors, and building long-term value. We believe this action will support our company’s ongoing success and reinforce investor confidence in our bright future.”
“In addition to our focus on compliance, we are deeply committed to expanding our presence in the wellness and green energy sectors. These areas represent significant growth opportunities, particularly as we collaborate with emerging local SMEs to bring innovative solutions to the market. By addressing the growing demand for green energy, pain management and elderly care services, we are positioning Agape ATP Corporation at the forefront of these essential industries, ensuring that we not only meet but exceed the expectations of our customers and stakeholders.” How added.
Agape ATP Corporation (ATPC) is dedicated to enhancing the quality of life and promoting sustainable development. With a strong foundation built on two core business pillars, ATPC specialises in the provision of health and wellness products that caters to the diverse needs of its customers, ensuring their well-being and vitality. Additionally, APTC delivers comprehensive energy-saving solutions that empower companies to drive sustainability initiatives, reduce energy consumption, and achieve their sustainability goals.
Additional information about the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2024, which is available free of charge at the SEC’s website, www.sec.gov.
