Allarity urges shareholders to vote for reverse stock split, decrease in shares

Allarity issued a statement encouraging its stockholders to participate actively in the upcoming annual meeting of stockholders scheduled on July 26. The Board has put a proposal before stockholders for a reverse stock split. Allarity has requested approval of the reverse stock split to regain and sustain compliance with Nasdaq requirements. The Board stated that if the reverse stock split is not approved by stockholders, the company’s common stock may be delisted from Nasdaq and could complicate stockholder’s ability to trade the company’s common stock, impact its stock price and affect stockholder’s ability to buy or sell when desired. The Board emphasized the importance of this stockholders’ vote, a positive vote for the reverse stock split as well as the decrease in authorized shares.