11:50 Fri 20 Nov 2020
Capital Reorganisation
--(BUSINESS WIRE)--
("Altyn" or the "")Altyn Plc
Company
Finalisation of share consolidation and change of name
As described in the circular issued by the Company on , and following the approval of the relevant resolution by shareholders of the Company in the General Meeting held on , the issued share capital of the Company, being 2,733,293,311 ordinary shares of £0.001 each at the date of this announcement, will be consolidated on the basis of 100 ordinary shares of £0.001 each for one new ordinary share of £0.10 with a new ISIN of GB00BMH19X50 ("") (the "").
The Consolidation will result in the 2,733,293,400 ordinary shares of £0.10 each being consolidated into 27,332,934 New Ordinary Shares with effect from .
Any fractional entitlements arising on the Consolidation will be aggregated and sold in the market for the best price reasonably obtainable and the net proceeds will retained by the Company as advised in the circular.
The figure of 27,332,934 may be used by shareholders and others as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules, on completion of the consolidation.
An application has been, or will be made for the New Ordinary Shares, which will have the same rights and will be subject to the same restrictions as ordinary shares in issue prior to the Consolidation, to be admitted to the Official List of the United Kingdom Listing Authority, to trading on the London Stock Exchange's Main Market for listed securities (""). It is expected that the Admission will occur on .Admission
For shareholders, those holding shares in CREST on the record date of will have their CREST accounts credited with the New Ordinary Shares on .
New share certificates will be issued to non-CREST shareholders in substitution for their existing share certificates. All existing share certificates will be invalid and will be cancelled and new share certificates will be dispatched to those shareholders who hold their shares in certificated form on the record date of .
The dates and times for the Consolidation are set out below:
The resolution in relation to the change of name was passed at the General meeting on , shareholders will be updated as the formalities of the name change are finalised.
Further Information:
For further information please contact:
Rajinder Basra
+44 (0) 207 932 2455Altyn Plc
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the main market segment of the London Stock Exchange.
To read more about Altyn Plc please visit our websitewww.altyn.uk
View source version on :businesswire.comhttps://www.businesswire.com/news/home/20201120005369/en/
Altyn Plc
Source: Altyn Plc
|
|
|
|
Last day to trade in the existing ordinary shares on the LSE | |
Record date in the for the Consolidation and the disablement of the existing ISIN () | |
Trading in the New Ordinary Shares under the new ISIN on the LSE commences | |
New Ordinary Shares credited within CREST | |
Share certificates dispatched | From |
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...
FOR OUR FULL DISCLAIMER CLICK HERE