Canadian Overseas Petroleum Ltd (LSE:COPL, CSE:XOP, FRA:V9LA, OTC:VELXF) is to conduct a share consolidation, effective 1 October, exchanging 1 new share for every 100 shares held by shareholders.
The company’s ticker and its name will remain unchanged through the process, both on the LSE and in Canada - i.e. LSE:COPL and CSE:XOP.
Any fractional shareholdings, where a shareholder has a remainder of remaining shares less than 100, will be effectively cancelled through the consolidation process.
Presently, the company has some 15.42bn ordinary shares in issue.
COPL resumed trading in London last month following its transformational reverse takeover of Atomic Oil & Gas.