BEIJING, March 21,
2023 /PRNewswire/ -- Luokung Technology Corp.
(NASDAQ: LKCO) ("Luokung," "we," "our" or the "Company"), a
British Virgin Islands company,
reported that it expects to implement a 30-to-1 share combination
on its ordinary shares effective Tuesday, March 22, 2023, with trading to begin on a
split-adjusted basis at the market open on that day. Trading in the
ordinary shares will continue on the Nasdaq Capital Market under
the symbol "LKCO". The new CUSIP number for the ordinary shares
following the share combination is G56981 205.
Upon the effectiveness of the share combination, every 30 shares
of the Company's issued and outstanding ordinary shares will
automatically be combined into one issued and outstanding ordinary
share. No fractional shares will be issued as a result of the share
combination. Instead, any fractional shares that would have
resulted from the split will be rounded up to the next whole
number. The share combination affects all shareholders uniformly
and will not alter any shareholder's percentage interest in the
Company's outstanding ordinary shares, except for adjustments that
may result from the treatment of fractional shares.
The share combination at a ratio of 30-to-1 shares was
approved by the Company's board of directors and its members. The
Company filed an Amended and Restated Memorandum and Articles of
Association with the British Virgin Islands Registry of Corporate
Affairs.
ABOUT LUOKUNG TECHNOLOGY CORP.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies
and expertise in HD Maps and multi-sourced intelligent
spatial-temporal big data, Luokung established city-level and
industry-level holographic Spatial-temporal digital twin systems
and actively serves industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue ,among others).
The Company routinely provides important updates on its website:
https://www.luokung.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Information regarding the Company's future growth prospect and
the preliminary unaudited financial results contained in this press
release may constitute forward-looking-information within the
meaning of securities laws. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. The financial estimates
provided in this press release are to provide early guidance on the
semi-annual financial performance of the Company and readers are
cautioned that this information may not be appropriate for any
other purpose. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events including that the Company has
not finished its review of the full financial positions and the
Company may continue to incur net losses. The Company has assumed
that the material factors referred to herein will not cause such
forward-looking statements and information to differ materially
from actual results or events. However, there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
Other than as required under securities laws, we do not
undertake to update this information at any particular time.
Forward-looking information contained in this press release,
including with respect to any future growth, is based on our
current estimates, expectations and projections, which we believe
are reasonable as of the current date. The reader should not place
undue importance on forward-looking information and should not rely
upon this information as of any other date. All forward-looking
information contained in this press release is expressly qualified
in its entirety by this cautionary statement.
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SOURCE Luokung Technology Corp.