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(Alliance News) - Synthomer PLC on Tuesday reported that following the approval of a capital reorganisation at a general meeting, 23.4 million of its shares have been admitted to trading on the London Stock Exchange.
The chemicals company announced that as part of the capital organisation, its existing shares have been consolidated so that shareholders will receive consolidated shares on a ratio of 1 consolidated share in substitution for every 20 existing shares.
Synthomer shares surged to 786.00 pence per share on Tuesday morning in London, 19.7 times higher than 39.98 pence on the Monday close, despite 20 former shares being exchanged for 1 new share each.
By Tom Budszus, Alliance News reporter
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