Last checked at (Sharecast News) - Life sciences company MaxCyte announced the consolidation of its two lines of common stock into a single unrestricted line of common stock on Friday.
The AIM-traded firm said it would be effected by the transfer of all stock comprising the Regulation S restricted trading line 'MXCS.L' to the unrestricted common stock 'MXCT.L' trading line.
It said the move was in line with its previously-stated intention that the two lines of stock would be consolidated following the expiry of the distribution compliance period on new shares it issued on 28 February and 1 March last year.
"The consolidation is intended to help both trading liquidity and transparency for shareholders," the MaxCyte board said in its statement.
"The move will result in the cancellation of trading of the Regulation S restricted trading line MXCS.L."
From 2 March, the board said all 57,403,583 MaxCyte common stock would be held as unrestricted shares in MXCT.
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