SMX (Security Matters) Public Limited Company, a foreign private issuer, has announced an Extraordinary General Meeting (EGM) to be held on June 4, 2024, for shareholders to vote on a proposed reverse stock split. The meeting will take place at the Mespil Business Centre in Dublin, Ireland. Shareholders of record as of May 6, 2024, will be eligible to vote and are being furnished with proxy materials. The reverse stock split aims to consolidate the company's ordinary shares to achieve a targeted post-consolidation price per share of up to $10.00. The Board of Directors will determine the specific ratio at their discretion. The reverse stock split is intended to comply with Nasdaq's continued listing requirements and make the stock more attractive to...Show More

SMX (Security Matters) Public Limited Company, a foreign private issuer, has announced an Extraordinary General Meeting (EGM) to be held on June 4, 2024, for shareholders to vote on a proposed reverse stock split. The meeting will take place at the Mespil Business Centre in Dublin, Ireland. Shareholders of record as of May 6, 2024, will be eligible to vote and are being furnished with proxy materials. The reverse stock split aims to consolidate the company's ordinary shares to achieve a targeted post-consolidation price per share of up to $10.00. The Board of Directors will determine the specific ratio at their discretion. The reverse stock split is intended to comply with Nasdaq's continued listing requirements and make the stock more attractive to investors. If necessary, the EGM may be adjourned to solicit additional proxies. The Board unanimously recommends shareholders vote in favor of the proposals. The company has also addressed the potential tax implications for both U.S. and Irish shareholders, noting that the reverse stock split is expected to be treated as a recapitalization for U.S. federal income tax purposes, generally not recognizing gain or loss except for cash received in lieu of fractional shares.