Mosman Oil & Gas Ltd - The exploration, development and production company with projects in Australia and the US - Proposes a consolidation to reduce the number of shares in issue to a number "more appropriate" and to better align its trading price with that of its peer group of companies. Currently has 3.85 billion shares in issue but wants to reduce these by a factor of 100 to 1 resulting in issued share capital of 38.5 million. Adds that all shareholders will be reduced in the same ratio as the total number of shares.
Current stock price: 0.070 pence, down 17% on Thursday
Year-to-date change: down 53%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Mosman Oil Gas (MSMN)