88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has given notice of its AGM, to be held on 6 May, and said it plans to consolidate its share capital.
It proposes a 25-into-1 consolidation – applying to shares, depositary interests (Dis), options, performance rights and warrants.
The Alaska-focussed oil and gas explorer, which is currently priced at 0.068p in London would therefore notionally be priced at around 1.7p post-consolidation.
88 Energy noted that any fractional holdings (i.e. any remainder of less than 25 original shares) would be cancelled.