LONDON (Alliance News) - Regency Mines PLC on Thursday said it has issued seven new shares of 0.01p each for a nominal total consideration of 0.07 pence.
The shares have been issued to adjust the total number of shares in issue to be 2.50 billion at the time of its annual meeting of shareholders on December 23, and "accordingly be a suitable number to be divided into 20 pursuant to the resolution to approve a capital re-organisation".
"As set out in the notice of annual general meeting, shareholders will be asked to consider, and if thought fit, pass resolutions which will have the following effect: that (A) each of the existing issued ordinary shares of 0.01pence each will be divided into one deferred share of 0.0095p each and one new ordinary share of 0.0005 pence; and (B) every twenty ordinary shares of 0.0005 pence are consolidated into one new ordinary share of 0.01 pence each," the company said.
Shares in Regency Mines closed at 0.02p on Thursday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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