Galaxy Payroll Group Limited has received unanimous board approval for a consolidation of all issued and unissued ordinary shares at a ratio of ten shares to one share of the same class. The share consolidation, approved under the British Virgin Islands Business Companies Act and the company's amended memorandum and articles of association, will take effect on September 8, 2025, with trading on the Nasdaq Capital Market beginning on a consolidation-adjusted basis at market opening.
The consolidation applies to both Class A and Class B ordinary shares, increasing the par value per share from US$0.000625 to US$0.00625 while reducing the total number of outstanding shares from 21,615,000 to approximately 2,161,500. Shareholders will not receive fractional shares; instead, the company will issue one full post-consolidation share to any shareholder entitled to receive a fractional share at the participant level. The company's trading symbol will remain "GLXY" on Nasdaq, but shares will trade under new CUSIP number G37692 111.
This corporate action represents a significant capital structure optimization for the Hong Kong-based payroll provider, potentially making the stock more attractive to institutional investors who often avoid low-priced shares. The consolidation may improve market perception and trading liquidity while maintaining proportional rights and economic interests for all shareholders. For more information about the company's operations, visit https://www.galaxyapac.com.
Mr. Wai Hong Lao, Chairman and Chief Executive Officer of Galaxy Payroll Group, stated that the share consolidation represents an important step in optimizing the company's capital structure as they position for future growth opportunities. The action will streamline the share structure while maintaining shareholder proportional rights. This move comes as the company continues to specialize in delivering HR and payroll solutions to multinational companies across various industries, operating in Hong Kong, Taiwan, Macau, and the PRC.
The share consolidation announcement follows standard corporate governance procedures and reflects the company's strategic planning for long-term growth. Investors should note that the reduction in share count does not affect the company's market capitalization or fundamental valuation, but rather adjusts the share price and number of shares outstanding proportionally. The consolidation may potentially qualify the stock for additional investment funds and indexes that have minimum price requirements.
