Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) announced plans for a capital reorganisation to consolidate the number of its shares in issue – subject to approval at an upcoming shareholders’ meeting.
Under the proposal, investors will receive one new share for every 10 existing shares they hold.
It comes amid the issue of new equity and equity options to Spencer Metals, in connection to Thor’s deal to acquire a 29% interest in exploration licences.