Recent Updates — FMFC
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.
Kandal M Venture Limited closed a third tranche of senior unsecured convertible promissory notes on September 1, 2026, issuing $750,000 in principal at an initial conversion price of $0.278 per share with maturity on September 1, 2029. The company also entered into non-binding letters of intent for two related-party acquisitions: the purchase of intellectual property from Miro Design Limited for $2 million to $3 million and the acquisition of MC Venture Ltd. for $1 million to $2 million, both payable via newly issued Class A Ordinary Shares pending independent valuation and special committee approval. Additionally, the Board approved a 2026 Equity Incentive Plan reserving 3,660,000 shares for future awards. Kandal M Venture Limited operates in the investment and venture capital sector.
Kandal M Venture Limited reported financial results for the fiscal year ended March 31, 2026. Revenue decreased slightly by 0.3% to US$17,128,067 from US$17,186,677 in the prior year. Gross profit fell 3.4% to US$3,243,017 with a margin contraction of 0.6 percentage points to 18.9%. Net income increased 12.4% to US$235,625 from US$209,673, driven by reduced interest expenses offsetting lower gross profits. The company secured growth capital in June 2026 for infrastructure expansion and completed its IPO, generating net proceeds of approximately US$8 million. Kandal M Venture Limited operates as a contract manufacturer of affordable luxury leather goods with facilities in Southeast Asia.
Kandal M Venture Limited postponed its extraordinary general meeting of shareholders, originally scheduled for July 9, 2026, until further notice. The board of directors determined the postponement was necessary to adjust the proposal previously set out in the notice of EGM dated June 16, 2026. The company operates in Cambodia and is a venture investment firm.