General meeting29 Aug 2012 18:26
Does anyone have any comments on this, I only have 198 shares, what will I be left with?
http://investors.impellam.com/pdf/Notice_and_Details_General_Meeting.pdf
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2. Capital Reorganisation
For the reasons set out above, the Board has decided that a share consolidation and subdivision should be proposed such that,
following the share consolidation, fractional entitlements of shareholders which will arise will be purchased by Cenkos at the
prevailing market price with the proceeds being remitted to shareholders. The Company will then subsequently acquire the
aggregate of all these fractional entitlements from Cenkos and cancel them.
Consolidation
The Board proposes to consolidate every 100 ordinary shares of 1 pence each in the capital of the Company (each an
“Ordinary Share”) into one consolidated A ordinary share of £1.00 (an “A Ordinary Share”) (the “Consolidation”). Following the
Consolidation, in accordance with article 6.2 of the Company’s articles of association, shareholders will not be entitled to any
resulting fractions of an A Ordinary Share, which will be purchased by Cenkos, with the proceeds being remitted to the relevant
shareholders. The Company will then subsequently acquire the aggregate of all these fractional entitlements from Cenkos and
cancel them (the “Share Purchase”).
Subdivision
Following the Consolidation, it is proposed that every A Ordinary Share will be subdivided into 100 ordinary shares of 1 pence
each in the capital of the Company (the “New Ordinary Shares”) (the “Subdivision”), each having the same rights as are enjoyed by
the ordinary shares of 1 pence each currently in issue.
Effect of the Capital Reorganisation (being the Consolidation and Subdivision)
The effect of the Capital Reorganisation is that shareholders holding fewer than 100 Ordinary Shares at 5.30 p.m. on Monday
3rd September 2012 (the “Consolidation Record Date”) will receive a cash payment for each Ordinary Share which they hold,
calculated by reference to the closing middle market price on the AIM Market (“AIM”) of the London Stock Exchange on this date. ...........
Check out the rest. Confused