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67.50 0.00 (0.00%)

Bid:

65.00

Ask:

70.00

Spread: 5.00 (7.692%)

Market Cap: £34.22m

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GetBusy Completes Share Capital Reorganization Programme

Wed, 08th Jan 2020 14:52

(Alliance News) - GetBusy PLC said Wednesday it has completed its share restructuring programme.

The document management software provider said every 5,000 ordinary shares were consolidated into one consolidated ordinary share on Tuesday.

Immediately following the consolidation, the consolidated shares were sub-divided on the basis of 5,000 new shares for each consolidated share held, the company noted.

In December, the company had said it had raised GBP2 million through a placing of 4.4 million shares at a price of 45 pence each, as part of the company's planned share capital reorganization.

GetBusy had also said it intended to consolidate and sub-divide its shares, in order to reduce administration costs, and improve its market liquidity and trading activity.

The new ordinary shares were expected to be admitted to trading on AIM market at 0800 GMT on Wednesday, the company said.

Following the share capital reorganization, the company now has 48.4 million shares in issue.

GetBusy shares were un-traded at 49 pence each in London on Wednesday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com