Shares of Common Stock Will Begin Trading on Split-Adjusted Bases May 18, 2022
KUALA LUMPUR, MALAYSIA, May 20, 2022 (GLOBE NEWSWIRE) -- Sino Green Land Corp. (OTCPK: SGLA), today announced that it will effect a one-for-five hundred reverse stock split of its common stock at May 18, 2022.
Beginning with the opening of trading on May 18, 2022, the Company's common stock will trade on the OTC Markets on a split-adjusted basis under a new CUSIP number 82936V207.
The Company's stockholders approved an amendment authorizing the reverse stock split by a written consent in lieu of a special meeting of stockholders on November 24, 2021. The reverse stock split was effected by filing a Certificate of Amendment to the Company's Restated Certificate of Incorporation with the Secretary of State of the State of Nevada.
The reverse stock split will be effected simultaneously for all outstanding shares of common stock and the ratio will be the same for all outstanding shares of common stock and preference stock. The reverse stock split will affect all holders of shares of Sino Green Land Corp. common stock uniformly, including officers and directors. While the number of shares each stockholder owns will decrease, their percentage ownership of the Company will remain the same. No fractional shares will be issued in connection with the reverse stock split, and all fractional shares will be rounded up to the nearest whole share.
The reverse stock split will reduce the number of shares of preference stock issued and outstanding from approximately 730 million to approximately 1.46 million, and the number of shares of preference stock issued and outstanding from approximately 1.26 million to approximately 2,520.
There will be no change to the number of authorized shares or par value of the Company's common or preferred stock following the effectiveness of the reverse split.
EQ Shareowner Services('EQ') is acting as the exchange agent and transfer agent for the reverse stock split. EQ will provide instructions to stockholders with physical certificates regarding the process for exchanging their pre-split stock certificates for post-split shares in book-entry form.
For further details regarding the reverse stock split, please see the Company's Definitive Information Statement on Schedule 14C filed with the SEC at www.sec.gov.
About Sino Green Land Corp.
Sino Green Land Corp. is currently a shell company, as defined in Rule 405 under the Securities Act of 1933, as amended (the "Securities Act"), and Rule 12b-2. Sino Green Land Corp. is in the business of acquiring private corporations in the business of in recycling, sales and distribution of reusable plastics. The goal of recycling plastic is to reduce high rates of plastic pollution while putting less pressure on virgin materials to produce brand new plastic products. This approach helps to conserve resources and diverts plastics from landfills or unintended destinations such as oceans. Its vision incorporates the spirit of social responsibility, not only on a local community basis but also on a global scale.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact:
Wo Kuk Ching
+ 603 8727 8732
