Extraordinary General Meeting Approves Articles Amendment and Stock Reverse Split, Shareholder Value Impact Neutral

Noul held an extraordinary general meeting on July 21, 2026, and passed a partial amendment to the articles of incorporation and a stock reverse split.
Approval rates based on total outstanding voting shares were very high at 99.5% and 99.3% respectively.
The stock reverse split reduces the number of shares outstanding to increase the per-share price, with no direct impact on existing shareholders' ownership or market capitalization.
These resolutions are interpreted as steps toward price stabilization and meeting listing requirements, involving no additional capital raising or dividend policy changes.
[AI Summary]The extraordinary general meeting approved articles amendment and stock reverse split with overwhelming majority, but these are procedural moves without capital changes or new funding. The reverse split artificially adjusts the share price without affecting fundamental value or shareholder returns, making it a neutral event from an investment perspective.