06:10 AM EDT, 08/21/2025 (MT Newswires) -- GreenPower Motor ( GP ) announced overnight Wednesday that it intends to complete a consolidation of its issued and outstanding common shares on the basis of one new share for every 10 currently-outstanding shares.

The company said it is anticipated that the consolidation will reduce the number of outstanding shares from 30,462,084 to approximately 3,046,208, subject to adjustment for rounding. It added the consolidation is being undertaken to regain compliance with Nasdaq listing rules requiring a minimum bid price for the company's shares of US$1 per share. The consolidation is subject to approval by the TSX Venture Exchange.

The company said it does not intend to change its name or its current trading symbol in connection with the proposed consolidation. The effective date of the consolidation will be announced subsequently.

Wednesday night's statement said no fractional post-consolidated shares will be issued as a result of the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a post-consolidated share will be rounded up to the nearest whole number of post-consolidated shares and no cash consideration will be paid in respect of fractional shares.

The exercise price and number of shares in the company, issuable upon the exercise of outstanding options and warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the proposed consolidation in accordance with terms.

GreenPower shares closed unchanged at $0.58 in Canada yesterday.