Full Press Release Details
Immediate Distribution
ATP Corporation Addresses Recent Corporate Exercise and Strategic Developments
Stock Split and New Initiatives to Drive Future Growth
LUMPUR, MALAYSIA, AUGUST 30, 2024 - AGAPE ATP Corporation (NASDAQ: ATPC) ("ATPC" or "the Company"),
is pleased to announce a series of significant updates reflecting its ongoing commitment to growth and sustainability.
today, ATPC will implement a 1-for-20 reverse stock split of its shares of common stock, as previously disclosed in filings with the
Securities and Exchange Commission. This strategic action aims to increase the market price per share, thereby meeting NASDAQ's
continued listing standards and ensuring the Company's position on a globally recognized exchange. Additionally, the number of
authorised shares of common stock will be reduced from 1,000,000,000 to 50,000,000.
the reverse stock split, ATPC is advancing several strategic initiatives aimed at strengthening its position and providing value to shareholders.
The Company is planning to launch new products expected to enhance its financial outlook and market presence. The recent partnership
with B&H Intec Solution Sdn. Bhd, which led to the formation of ATPC Green Energy Sdn. Bhd., has lined up a promising pipeline in
its green energy sector. This venture is an important step in expanding the Company's capabilities in sustainable energy solutions,
aligning with its broader goals of supporting environmental sustainability.
ATPC is actively expanding its offerings in the wellness and senior care sectors. Cedar ATPC Sdn. Bhd. is poised to introduce a range
of new wellness services designed to meet the growing demand for health and wellness solutions. At the same time, Sweet Home Senior Living
Care Centre Sdn Bhd continues to thrive, delivering high-quality care services to address the needs of an aging population. These initiatives
underscore the Company's commitment to enhancing the quality of life and supporting sustainable development, which are core pillars
of its business strategy.
the Company remains on solid footing, with a strong balance sheet and sufficient liquidity to support ongoing and future initiatives.
ATPC is also exploring new opportunities in both domestic and regional markets, particularly in the areas of Wellness and Green Energy,
as part of its strategy for sustainable growth.
Company recognises the concerns of its investors regarding the reverse stock split and wants to assure them that these actions are part
of a broader strategy to ensure long-term stability and growth. While short-term market dynamics can be influenced by various factors,
including geopolitical events and economic shifts, ATPC is confident in the underlying strength of the markets in which it operates and
its strategic positioning within them. The management team is closely monitoring market conditions and remains prepared to take swift,
decisive actions to protect and enhance shareholder value.
AGAPE ATP Corporation
ATP Corporation (ATPC) is dedicated to enhancing the quality of life and promoting sustainable development. With a strong foundation
built on two core business pillars, ATPC specialises in the provision of health and wellness products that caters to the diverse needs
of its customers, ensuring their well-being and vitality. Additionally, APTC delivers comprehensive energy-saving solutions that empower
companies to drive sustainability initiatives, reduce energy consumption, and achieve their sustainability goals.
more information, visit https://atpc.com.my/.
By: Swan Consultancy Sdn. Bhd. on behalf of Agape ATP Corporation
more information, please contact:
statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected benefits and outcomes
of the relaunch of ATPC Green Energy, the support from B&H Intec Solution, and the potential for energy-saving solutions in various
sectors. The words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are
not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the
Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including,
but not limited to, the Company's ability to execute its strategies, manage growth, and maintain its corporate culture; the Company's
future business development, financial conditions, and results of operations; expectations regarding demand for and market acceptance
of our products and services; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing;
government regulations; fluctuations in general economic and business conditions in Malaysia and the international markets the Company
plans to serve, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company
with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements
in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and AGAPE ATP
Corporation specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future
events, or otherwise, except as required by law.