Adam Investments calls for EGM on share subdivision

Wednesday, 21 December 2016 00:00 - - {{hitsCtrl.values.hits}}

Adam Investments Plc has announced the move for a subdivision of ordinary shares with an Extraordinary General Meeting convened on 10 January to obtain shareholder approval.

The move is to facilitate greater liquidity of the company’s shares without affecting any increase in current stated capital.

The measure will increase the shares in issue to 898.5 million from 449.2 million at present.

The company first announced the move in June this year but delayed it as the Board of Directors sought it fit to avoid any confusion in the payment of dividend that may arise due to the division of shares. The latest announcement follows the payment of dividend and the board deciding to proceed with the subdivision of shares.

Following shareholder approval for the move, trading of Adam Investments shares will be suspended from 11 January-13 January 2017 (both days inclusive).