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Expulsion, China, July 7, 2022 / PRNewswire / – IT Tech Packaging, Inc. (NYSE American: ITP) (IT Tech Packaging or Company), a leading manufacturer and distributor of various paper products in Northern ChinaThe company announced its acceptance of the 1-to-10 Reverse Stock Split by the Board of Directors today. June 27, 2022 It is effective from the start. 5:00 PM EST Today at July 7, 2022 (“Effective Day”), and is reflected in the open market July 8, 2022.
Reverse share distribution, subject to Nevada Law (Nevada Revised Laws (“NRS”) Section 78.207), the Company’s (a) authorized joint stock has been adjusted in proportion; And (b) issued and unexpected shares. Reversal of dividends is made in accordance with NRS Section 78.209 of the Company’s Certificate of Change (“Certificate”) registered with the Secretary of State. State of Nevada On an effective day. As a result of the issuance of the certificate, the authorized joint stock of the company was reduced from 500,000,000 shares to 50,000,000 shares, and the number of shares in the company was reduced and the number of shares increased significantly.
On the effective date, the total number of shares held by each shareholder of the company is immediately converted to the number of shares (i) the number of shares held and the number of unsecured shares held by each shareholder. Such a shareholder is immediately divided by (ii) 10 before the reversal of the dividend, thereby dividing the number of shares to the nearest total share. No dividends shall be issued in connection with the reversal of dividends and no cash or other proceeds shall be paid in connection with any dividends that may result from the reversal of dividends.
Shareholders who hold their shares electronically in brokerage firms do not need to take any action, as the effect of reverse dividends is immediately reflected in their broker accounts. Shareholders with paper certificates can send the certificates to the company’s transfer agent and registrar Empire (but they are not required). Empire Stock Transfer, at the address below, provides a new share certificate for each shareholder that reflects the reverse share distribution.
Empire Stock Exchange
1859 Whitney Mesa Dr.
Henderson, N.V. 89014
About IT Tech Packaging, Inc.
A.D. Founded in 1996, IT Tech Packaging, Inc. It is a leading manufacturer and distributor of various face masks and single use face masks. Northern China. Using recycled paper as the main raw material (excluding tissue paper products), ITP produces and distributes three types of paper products: clear paper, printing paper, and tissue paper products. With a product based on Baoding and Xingtai in Northern China Hebei StateITP is strategically close. Beijing And Tianjin Industrial and manufacturing activities are a growing region and one of the largest markets for paper products in the country. ITP has been listed on the NYSE American since. December 2009. For more information, please visit tax- http://www.itpackaging.cn/
Future Statement
This release includes Section 27A of the 1933 Securities Act and Section 21E of the amended 1934 Securities Exchange Act. Future statements provide future expectations, opinions, beliefs or predictions about future events and events. A description of the future, including the terms “license”, “may”, “expect”, “projects”, “estimate”, “plans”, “believe”, “estimate”, and so on. . These forecasts are subject to many risks, doubts and speculations, including market and other factors. More detailed information about the company and the risk factors that may affect the realization of future statements are listed in the company’s submission to the SEC. Investors and security owners are urged to read these documents for free on the SEC’s website http://www.sec.gov. The Company is not obligated to update such forward-looking statements in accordance with the actual results or expected changes, except as required by law.
For more information, please contact:
In the company
Email: [email protected]
Phone Call +86 312 8698215
Investor Relations
Hill Investor Relations LLC Ms. Tina Xiao
Email: [email protected]
Phone Call + 1-917-609-0333
Source IT Tech Packaging, Inc.
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