ReNeuron Group Plc (LON:RENE) plans a share consolidation, which it hopes will improve the marketability and liquidity of the stock along with trading activity.
The stem cell specialist said it wants to reduce its equity base by a factor of 100, which, based on Thursday’s close of 1.825p, would push the price to 182.5p.
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“The board of the company believes that the share capital reorganisation will result in a capital structure more conducive to attracting new institutional investors based both in the UK and in other overseas jurisdictions,” investors were told.
The proposal will be put to a shareholder vote on January 23.
For more information on the ReNeuron share re-organisation, particularly how fractional shareholdings will be treated, click here.