PTL Limited (NASDAQ: PTLE) completed a 1‑for‑80 share consolidation of its Class A and Class B ordinary shares, effective February 27, 2026. The consolidation reduced the outstanding Class A shares from 491,237,500 to 6,140,469 and Class B shares from 11,250,000 to 140,625. No fractional shares will be issued; any fractions are rounded up to the nearest whole share. The new CUSIP number for the consolidated shares is G7377S127.
The consolidation was undertaken to bring the company’s bid price above Nasdaq’s minimum $1.00 requirement and to satisfy the $35 million market‑value of listed securities rule, both of which PTL had fallen short of after receiving compliance notices in July 2025. The company had previously been granted a 180‑day grace period that extended the deadline to July 13, 2026, but the share consolidation is a procedural step that does not alter the company’s underlying financial performance.
PTL’s financial results for the six months ended June 30 2025 illustrate the pressures that prompted the consolidation. Revenue declined 13.4 % year‑over‑year to $43.6 million, and the company posted a net loss of $4.1 million, or an earnings‑per‑share loss of $0.23. Gross margin contracted to 1.3 %, reflecting lower fuel‑price spreads and higher operating costs. The company’s marine‑fuel logistics business has faced declining demand in the Asia‑Pacific market, and its thin margins have left it vulnerable to price volatility.
Management has highlighted that the consolidation is a compliance measure rather than a strategic investment. While the company continues to pursue capital‑raising through registered offerings, the share consolidation does not change its debt profile or cash‑flow generation. The board approved the plan on February 11, 2026, and shareholders approved it on June 16, 2025.
Analysts have noted that the consolidation signals ongoing liquidity and valuation challenges. The company’s market value of listed securities remains below the Nasdaq threshold, and its valuation has been under pressure. The consolidation will raise the bid price above $1.00, but investors will still need to assess PTL’s ability to reverse its revenue and margin trends.
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