Murray Cod Australia Limited (ASX:MCA) Announces Security Consolidation
Consolidation Details
Murray Cod Australia Limited (ASX:MCA) has initiated a security consolidation process. Each security holding will be reduced by ten times its current level, which affects all shareholders equally. This change will reduce the total number of issued shares to reflect the new ratio.
Timeline and Important Dates
The record date for this consolidation is set for 6 February 2025. Trading in the post-consolidation securities will commence on a deferred settlement basis on 5 February 2025. The effective date of consolidation will take effect from 3 February 2025, with normal trading commencing on 14 February 2025.
Securityholder Approval
Shareholders provided their approval at the Annual General Meeting on 22 November 2024. This step was crucial for proceeding with the consolidation measures outlined in the announcement.
Impact on Securities
Post-consolidation, the overall number of securities on issue will decrease significantly. For instance, ordinary fully paid shares will reduce from approximately 1.06 billion to 105.77 million. Meanwhile, exercise prices for options will also adjust accordingly, with existing prices multiplied by ten following the consolidation.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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