Street Calls of the Week
WASHINGTON - Public Policy Holding Company, Inc. (PPHC) announced Monday that shareholders have approved a reverse stock split and amendments to the company’s certificate of incorporation during a Special Meeting of Shareholders.
The strategic communications provider reported that both resolutions passed with overwhelming support, with 98.74% of votes cast in favor of the reverse stock split and 98.02% approving amendments to the company’s certificate of incorporation.
The approved reverse stock split will be implemented at a ratio between 1-for-3 and 1-for-8, with the exact ratio to be determined by the Board of Directors. According to the company, the split will be executed in preparation for PPHC’s anticipated Nasdaq listing.
"Following these shareholder approvals, the Board will confirm and announce the exact Reverse Split ratio in due course and will proceed to implement the Reverse Stock Split in advance of the anticipated Nasdaq listing," the company stated in a press release.
PPHC describes itself as a global government relations, public affairs and strategic communications group that serves approximately 1,300 clients across major economic sectors. The company operates through eleven entities globally, providing services including government relations, public affairs, research, and digital advocacy campaigns.
The company was incorporated in 2014 and currently maintains a holding company structure. PPHC trades on the London Stock Exchange, where it is required to disclose voting results from shareholder meetings.
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