Guardforce AI (GFAI) has scheduled an extraordinary general meeting for October 27, 2026, to vote on a capital and share restructuring plan. The proposal includes a one-for-forty reverse stock split intended to help the company regain compliance with Nasdaq’s $1.00 minimum bid price requirement.
The company is also proposing a dual-class share structure that would concentrate voting power with CEO Lei Wang. If approved, existing shares would be reclassified: Wang would hold all Class B shares, with 20 votes each, while other shareholders would hold Class A shares, with one vote each.
The plan also calls for reducing the par value of shares and increasing the company’s equity incentive plan.