Fitell (FTEL) said Thursday it will implement a 1-for-16 share consolidation of its ordinary shares, effective Sept. 23.
The company said its class A shares will continue to trade on the Nasdaq Capital Market under the ticker FTEL with a new CUSIP number.
Fitell said the consolidation, approved by shareholders in April, is intended to help the company meet Nasdaq's minimum bid price requirement.
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