PTL Limited announces 1-for-80 share consolidation effective Feb. 27

PTL Limited (NASDAQ: PTLE) announced approval of a 1-for-80 share consolidation of its Class A and Class B ordinary shares, effective with market opening on February 27, 2026.

The Hong Kong-based marine fuel logistics company said the consolidation aims to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market. Shares will continue trading under the "PTLE" symbol with a new CUSIP number of G7377S127.

Under the consolidation, every 80 outstanding ordinary shares will automatically convert into one share. The company reported 491,237,500 Class A ordinary shares and 11,250,000 Class B ordinary shares outstanding as of the announcement date. Following the consolidation, 6,140,469 Class A ordinary shares and 140,625 Class B ordinary shares will be outstanding.

PTL stated that fractional shares resulting from the consolidation will be rounded up to the next whole number, with no fractional shares issued. The company said the consolidation affects all shareholders uniformly and will not alter percentage ownership interests, except for adjustments from fractional share treatment.

The board of directors approved the consolidation on February 11, 2026, following shareholder approval on June 16, 2025, according to the company.

PTL operates as a bunkering facilitator providing marine fuel logistics services for vessel refueling in the Asia Pacific market, serving container ships, bulk carriers, general cargo vessels, and chemical tankers.

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