LONDON (Alliance News) - Data science company IXICO PLC said on Monday it has proposed to reorganise its share capital through a share consolidation and sub-division, subject to shareholder approval.
The reason for the share reorganisation is too many shareholders with too little of a stake. IXICO currently has 46.8 million shares issued overall, with 2,156 shareholders and 1,692 of which have holdings of less than 100 shares.
The reorganisation will see every 100 existing shares be consolidated into 1 share followed by a sub-division into 100 new shares.
Shareholders holding up to 100 shares will receive the value of held shares unless it falls below the threshold of GBP3. If it does, the shareholder will cease to be a shareholder in the company and proceeds from the sold shares will be donated to Alzheimer's Research UK.
Shares in IXICO were up 2.7% at 26.70 pence on Monday.
Ixico (IXI)