RE: Re-Born Companies.19 Jan 2010 07:16
[SWP] .
As announced at the time of the publication of SWP's final results, the Company is conducting a capital reorganisation including a bonus issue at a ratio of:
10 new ordinary shares of 0.5p each for every 1 existing ordinary share of 0.5p each
to all those SWP shareholders on the shareholder register as at 20 January 2010. The capital reorganisation has been approved by shareholders at a General Meeting of the Company.
The effect of the bonus issue will be to increase the number of ordinary shares in issue and the holding of each shareholder will be increased on a pro rata basis with a corresponding adjustment to the market price of each share.
The bonus issue is taking place in order to reduce the Company's Share Premium Account and increase the Called up Share Capital.
On the basis of the current issued ordinary share capital of 18,264,546 ordinary shares, the bonus issue will result in the issue of 182,645,460 bonus shares. Application has today been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM, where ordinary shares of the same class are already traded. It is expected that Admission will be effective and dealing in the ordinary shares will commence on 21 January 2010.