Anghami Implements 1-for-10 Reverse Stock Split to Boost Compliance

Anghami's Strategic Move: 1-for-10 Reverse Stock Split

Anghami Inc., recognized as the leading multimedia streaming platform in the MENA region, has made headlines today with the announcement of a 1-for-10 reverse stock split, set to take effect on August 4, 2025. This strategic decision, confirmed by shareholders at an Extraordinary General Meeting on July 22, aims to ensure compliance with the Nasdaq Capital Market's minimum bid price requirement, essential for maintaining their listing status.

The mechanics of this stock split are straightforward yet significant. Each ten shares of Anghami’s ordinary stock will be consolidated into a single share, adjusting the par value from $0.0001 to $0.001 per share. Importantly, this move will not dilute the ownership of current shareholders; their overall equity remains intact relative to the total number of shares authorized. Furthermore, as part of this adjustment, the conversion prices of all convertible securities and warrants will also reflect this new alignment.

As outlined in the company’s statement, shareholders will not receive fractional shares post-split. Instead, cash payments will be provided for any fractions, ensuring that all investors see a straightforward transition without the complexities often associated with stock splits.

Continental Stock Transfer and Trust Company will act as the exchange and transfer agent for this reverse split. Shareholders holding their shares electronically will not need to take any action to receive their new post-split equity, while those with shares through banks or brokers will see automatic adjustments made to reflect the split.

The Road Ahead for Anghami

This reverse stock split is not merely about compliance; it speaks volumes about Anghami's proactive approach to market challenges. Following a successful partnership with OSN+, which has elevated the company's presence in the competitive streaming landscape, Anghami is focused on expanding its user base and enriching its content offerings. The platform boasts an impressive library of over 18,000 hours of premium video and more than 100 million tracks of Arabic and international music, courtesy of collaborations with top-tier production houses.

Headquartered in Abu Dhabi, UAE, Anghami has expanded its operations across 16 countries, establishing a firm foothold in the MENA entertainment market. The company's innovative offerings and robust partnerships have contributed to a user base exceeding 120 million registered users, of which 3.5 million are paid subscribers. This impressive figure demonstrates the platform's potential and ongoing commitment to providing top-notch entertainment.

Moreover, with strategic investments and partnerships, Anghami continually enhances its services. The merger with OSN+ exemplifies a thoughtful strategic direction, as it combines their resources to deliver timely content and maintain a competitive edge in the streaming market. This collaboration is particularly crucial as both platforms aim to deliver exclusive content while catering to the diverse preferences of their audience

Looking Forward

As Anghami navigates through the complexities of the stock market while pushing its service into new heights, the future seems promising. This plan of a reverse stock split is just one step in a myriad of efforts to boost shareholder confidence and maintain operational integrity in a fast-evolving industry. The full implications of this move will unfold in the coming months, but it certainly reflects Anghami's commitment to not just surviving but thriving in a competitive marketplace.

In summary, the 1-for-10 reverse stock split heralds a significant juncture for Anghami, as it enforces compliance with regulatory standards while preserving shareholder interests. With a firm strategy in assessing its market position, Anghami is strategically poised for further growth and success in the MENA multimedia arena.

For more information on Anghami’s updates and investor relations, visit Anghami's website.