Klevo Rewards (ASX: KLV) Seeks Vote on 10-for-1 Consolidation, New Name and Up to A$15m Raise

Aditi Sarkar

21 July 2026 02:35 PM AEST

Klevo Rewards (ASX: KLV) Seeks Vote on 10-for-1 Consolidation, New Name and Up to A$15m Raise

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Key Highlights

Consolidation: Klevo Rewards (ASX: KLV) proposes to consolidate capital on a 10-for-1 basis, reducing shares on issue from about 1.54 billion to roughly 154.5 million, subject to shareholder approval.
Name change: a special resolution seeks to rename the company Klevo Group Limited, requiring 75% majority support.
Up to A$15m raise: shareholders are asked to approve share issues to LDA Capital Group, LLC that, when fully drawn, would raise up to A$15 million under the existing LDA facility.
Option housekeeping: separate resolutions would ratify a March 2026 option issue to LDA and add a cashless exercise feature to four existing option classes.
The virtual general meeting is scheduled for 11:30am (AEST) on Friday, 21 August 2026.

Klevo Rewards Limited (ASX: KLV) has called a general meeting for 21 August 2026 asking shareholders to approve a 10-for-1 capital consolidation, a change of name to Klevo Group Limited and the issue of shares to raise up to A$15 million under its LDA Capital facility. The notice contains eight resolutions covering the consolidation, the name change, LDA share issuances, ratification of a prior option issue and cashless exercise variations for four existing option classes. None of the measures takes effect unless the relevant resolution passes.

The 10-for-1 Consolidation

Resolution 2 seeks approval under section 254H of the Corporations Act to consolidate the company's issued capital on a 10-for-1 basis. Every 10 shares would become 1 share and every 10 options would become 1 option, with fractional entitlements of 0.5 and over rounded up. Shares on issue would fall from about 1.54 billion to roughly 154.5 million. If approved, the effective date is the meeting date of 21 August 2026, with post-consolidation deferred settlement trading from 25 August 2026.

A consolidation changes the number of securities on issue but does not, of itself, change a shareholder's proportionate interest, other than for rounding. Exercise prices on options would be adjusted in inverse proportion to the consolidation ratio.

Capital Raise and Strategic Context

Resolution 3 seeks approval for share issues to LDA Capital Group, LLC that, when fully drawn, would raise up to A$15 million. The issue price would be the higher of 90% of VWAP over a 30 trading-day period or a minimum of A$0.20 on a pre-consolidation basis. Klevo Rewards says the funds are intended for platform development, regulatory and compliance costs, technology infrastructure, product launch and customer engagement tied to its AI-driven stablecoin initiative — referred to as KLVAUD — and digital investment banking platform.

The proposed name change to Klevo Group Limited requires a 75% special resolution majority. Once lodged with ASIC, the change takes effect when ASIC updates the company's registration.

What Investors May Watch Next

21 August 2026 general meeting vote on all eight resolutions
If approved, consolidation effective date is the meeting date with deferred settlement trading from 25 August 2026
Name change lodgement with ASIC upon passage of the special resolution
Capital deployment: shares expected to be issued to LDA within five business days of the meeting
Future ASX announcements

Risks

Nothing is approved yet. Every measure is a proposal that depends on the relevant resolution passing. The name change requires a 75% majority.

Issuing shares to LDA and exercising options would dilute existing shareholders. The final number of shares and capital raised depends on the prevailing VWAP-based issue price.

The stablecoin initiative is expressly subject to onboarding, exchange approval, AML/CTF, compliance and risk requirements, none of which are guaranteed. The consolidation timetable is indicative only and the board may vary it.

Balanced Conclusion

The 21 August 2026 general meeting is a consequential one for Klevo Rewards Limited (ASX: KLV). Shareholders are being asked to reshape the company's capital structure through a 10-for-1 consolidation, endorse a new corporate identity as Klevo Group Limited, and clear the way for up to A$15 million of LDA-backed funding to advance a stablecoin and digital platform strategy. None of these outcomes is settled until shareholders vote.

FAQs

Q: What is Klevo Rewards asking shareholders to vote on?

A: Eight resolutions, headlined by a 10-for-1 consolidation, a change of name to Klevo Group Limited, and approval to issue shares to LDA Capital to raise up to A$15 million.

Q: What does the 10-for-1 consolidation mean for my shares?

A: If approved, every 10 shares become 1 share and every 10 options become 1 option, with fractions of 0.5 and over rounded up. Aside from rounding, a consolidation does not change your proportionate interest.

Q: What will the capital raise fund?

A: Up to A$15 million, if fully drawn, intended for platform development, regulatory and compliance costs, technology infrastructure, product launch and customer engagement tied to the stablecoin and digital platform strategy.

Q: Are these changes guaranteed to happen?

A: No. Each proposal is conditional on the relevant resolution passing. The name change requires a 75% special resolution majority.

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