Recent Updates — FMFC
On October 15, 2026, Nasdaq notified Kandal M Venture Limited that it no longer meets the continued listing requirement to maintain at least 500,000 publicly held shares. The exchange has provided a deadline of November 30, 2026 for the company to submit a specific plan to achieve and sustain compliance with all Nasdaq Capital Market listing requirements. Kandal M Venture Limited intends to submit this plan within the required timeframe and is currently evaluating options to regain compliance. While the company will use reasonable efforts to comply, there is no assurance that its plan will be accepted or that it can otherwise meet listing standards. The company operates in the venture capital and investment sector.
Kandal M Venture Limited reported unaudited financial results for the six months ended September 30, 2026, showing a 21% increase in revenue to US$9.5 million and gross profit growth of 45% to $2.15 million. Operating income rose significantly by 183% to $538,000 as the company expanded its manufacturing footprint across China and Southeast Asia while improving production efficiency through technology-enabled processes. The firm operates as a contract manufacturer of affordable luxury leather goods.
Kandal M Venture Limited announced a proposed 1-for-40 share consolidation to regain compliance with Nasdaq listing requirements. The effective date for trading on a post-consolidation basis is October 13, 2026. This action reduces the outstanding shares from approximately 19.7 million to roughly 492,374. Kandal M Venture Limited operates in the venture capital and investment sector.
Kandal M Venture Limited shareholders approved a share consolidation at its Extraordinary General Meeting on September 22, 2026. The resolution mandates that every forty existing shares be consolidated into one new share with a par value of US$0.04. This reduces the authorized share capital from 5 billion to 125 million shares while maintaining total capital at US$50,000. Fractional shares will not be issued; instead, shareholders holding fractions are entitled to receive one consolidated share in lieu thereof. The effective date is determined by the board but must occur no later than October 13, 2026. Kandal M Venture Limited operates as an investment holding company incorporated in the Cayman Islands with principal offices in Cambodia.
Kandal M Venture Limited terminated a prior agreement to acquire 15% of Dumaine and entered into a convertible bond purchase agreement with Dumaine on September 25, 2026. Padachi M Venture Limited, the registrant's wholly-owned subsidiary, purchased $2.5 million in senior unsecured convertible bonds from Dumaine. The bonds bear interest at 6% per annum, payable semi-annually, and mature five years after issuance. This transaction constitutes a related party matter approved by the board of directors. Kandal M Venture Limited operates as an investment holding company with subsidiaries engaged in luxury handbag manufacturing.
Kandal M Venture Limited filed a Form 6-K furnishing the Notice of Extraordinary General Meeting and Proxy Statement for a shareholder vote scheduled for September 22, 2026. The primary proposal is to approve a 40-for-1 share consolidation (reverse split) effective October 13, 2026. This action aims to restore compliance with Nasdaq’s minimum bid price requirement of $1.00 per share after the company received an additional 180-day extension until December 21, 2026. The record date for voting is August 27, 2026. Kandal M Venture Limited operates in the cannabis industry.