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Fitell Corporation Announces Share Consolidation
TAREN POINT, Australia, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Fitell Corporation (Nasdaq: FTEL) (the ...
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[{"type":"text","content":"Fitell Corporation Announces Share Consolidation\nTAREN POINT, Australia, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Fitell Corporation (Nasdaq: FTEL) (the “Company”), today announced that it will effect a share consolidation of (i) its outstanding Class A ordinary shares, par value of $0.0016 per share, at a ratio of 1-for-8, with a post-share consolidation par value of $0.0128, and (ii) its outstanding Class B ordinary shares, par value of $0.0016, at a ratio of 1-for-2, with a post-share consolidation par value of $0.0032, effective on January 8, 2026 (the “Share Consolidation”). The Company’s Class A ordinary shares are expected to begin trading on a post-consolidation basis at the open of the market session on January 8, 2026. Upon the market opening on January 8, 2026, the Company’s Class A ordinary shares will continue to be traded on The Nasdaq Capital Market under the symbol “FTEL” with the new CUSIP number G35150146. This decision represents a deliberate capital structure optimization, aligning the company’s market profile with its significant operational progress and ambitious future roadmap. The Share Consolidation was approved by the Company’s shareholders at the Extraordinary General Meeting of Members held on December 12, 2025. Subsequently, the Board of Directors fix the share consolidation ratio by way of written resolutions dated December 16, 2025. As of January 5, 2026, there were 9,666,791 of the Company’s Class A ordinary shares outstanding and 402,500 Class B ordinary shares outstanding. Effecting the Share Consolidation will reduce the outstanding Class A ordinary shares to 1,208,349 and the outstanding Class B ordinary shares to 201,250. As a result of the Share Consolidation, the Company’s authorized share capital will be $2,000,000 divided into (a) 154,237,500 Class A ordinary shares of a par value of US$0.0128 each; and (b) 8,050,000 Class B ordinary shares of a par value of US$0.0032 each. “We are building a company designed for scale, performance, and sustained value creation,” stated Sam Lu, Chief Executive Officer of Fitell Corporation. “The Strengthened equity profile provides greater flexibility and a more robust platform for future value-accretive initiatives. This positions us optimally to consider s...