(Alliance News) - Kazera Global PLC on Monday proposed a reorganisation of its share capital in order to reduce the nominal value of its shares.
The investment company is proposing sub-dividing its 286.6 million shares into 286.6 ordinary shares, at 0.10 pence each, and 286.6 million deferred shares at 0.90p each. Its shares currently have a nominal value of 1.00p.
Kazera said that the "placing will promote the success of the company for the benefit of its members."
Last week, the company raised GBP400,000 in a share place. Kazera said the trading of the placed shares is expected to begin on September 24.
Kazera's shares closed 4.0% lower at 0.60p each in London on Monday.
Kazera Global (KZG)