logo-loader
viewArc Minerals Limited

Ortac Resources launches one-for-100 capital reorganisation to improve marketability

After consolidation, the issued share capital of Ortac was expected to be 82.1 mln new shares.

London Stock Exchange
The last day for dealing in the existing shares on AIM is expected to be March 23

Ortac Resources Ltd (LON:OTC) has announced a one-for-100 capital reorganisation of its existing share capital to consolidate these to a level in line with other comparable AIM-quoted companies and improve marketability.

The company, which currently has 8.2 bn shares in issue, said it “considers that the current issued share capital is considerably larger than that of  similar sized companies on AIM and other Recognised Investment Exchanges and that this, combined with the current share price of around 0.03 pence per share (14 March 2017), affects investor perception of the Company.”

It added: "The Directors expect that the consolidation will improve the marketability of the company's existing ordinary shares to a wider range of investors, including institutional investors.”

After consolidation, the issued share capital of Ortac was expected to be 82.1 mln new shares.

The last day for dealing in the existing shares on AIM is expected to be March 23.

Quick facts: Arc Minerals Limited

Price: 3.8 GBX

AIM:ARCM
Market: AIM
Market Cap: £37.16 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

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 securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Arc Minerals Limited named herein, including the promotion by the Company of Arc Minerals Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Oracle Power's Pakistan block recognised as potential...

Headlines from the Proactive UK newsroom. Oracle Power PLC’s (LON:ORCP) resource on Block VI at Thar in Pakistan has been officially recognised as a potential coal gasification into fertiliser project. Pakistan is estimated to face a sizeable fertiliser shortage by 2026. Arc Minerals Ltd...

on 19/11/19

2 min read