Anghami Announces 1-for-10 Reverse Stock Split

Anghami Announces 1-for-10 Reverse Stock Split

Benzinga
July 29, 2025

ABU DHABI, UAE, July 29, 2025 /PRNewswire/ -- Anghami Inc. (NASDAQ:ANGH) ("Anghami" or "the Company"), the leading multi-media streaming platform in the MENA region, today announces that it will implement a 1-for-10 reverse stock split of the Company's ordinary shares ("Reverse Stock Split").

The Company's ordinary shares are expected to begin trading on a split-adjusted basis when the markets open on August 4, 2025 under the Company's existing trading symbol "ANGH" with the new CUSIP number G0369L200.

The Reverse Stock Split was approved by shareholders at the reconvened Extraordinary General Meeting held on 22 July 2025. The primary purpose of the Reverse Stock Split is to regain compliance with the Nasdaq Capital Market's minimum bid price requirement for continued listing. The Reverse Stock Split will not have a dilutive effect on shareholders. In addition, the proportion of shares held by shareholders relative to the number of shares authorized for issuance will remain unchanged.

Upon effectiveness, every ten issued and outstanding ordinary shares will be combined into one issued and outstanding ordinary share. The par value of the ordinary shares will be proportionately increased, from $0.0001 per share to $0.001 per share. Additionally, the conversion or exercise prices of all convertible securities and warrants will be proportionately adjusted in line with the Reverse Stock Split. Shareholders will not receive fractional shares; instead, cash payments will be made in lieu of any fractional shares.

Continental Stock Transfer and Trust Company has been appointed as the exchange and transfer agent for the Reverse Stock Split. Shareholders holding their shares electronically are ...

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