At the Annual General Meeting held on 26 November 2014, shareholder approval was received for a consolidation and sub-division of the Company’s share capital (“Capital Reorganisation”). The Capital Reorganisation was implemented effective 27 November 2014 and the shareholders received one consolidated ordinary share of 20 pence for existing 40 ordinary shares of 0.5 pence (“Consolidation”). Immediately following the Consolidation, each consolidated ordinary share was subdivided into one new ordinary share of 0.5 pence and one new deferred share of 19.5 pence.
Prior to the Capital Reorganisation, the Company’s ordinary share capital consisted of 4,348,552,329 ordinary shares of 0.5 pence, and subsequent to the Capital Reorganisation, the Company’s ordinary share capital consists of 108,713,809 ordinary shares of 0.5 pence with voting rights listed on AIM and 108,713,809 deferred shares of 19.5 pence with no voting rights. The new ordinary shares have the same rights and benefits as the ordinary shares which existed before the consolidation, including voting, dividend and other rights. The new deferred shares do not have any commercial value, are not tradable, and do not have any entitlement to voting or dividend rights. Shareholder certificates were not issued for the new deferred shares.
On 27 November 2014, 108,713,809 ordinary shares of 0.5 pence the new shares were admitted to trading on AIM, and trading commenced at 54 pence per share.
|PROPOSED CONSOLIDATION AND SUB-DIVISION OF ORDINARY SHARES.pdf||137.47 KB|
|FAQs CAPITAL REORGANISATION.pdf||313.55 KB|
|RNS RESULTS OF THE AGM.pdf||204.94 KB|