Last checked at 20 Nov 2020 11:50
Altyn Plc("Altyn" or the "Company")
Finalisation of share consolidation and change of name
As described in the circular issued by the Company on 23 October 2020, and following the approval of the relevant resolution by shareholders of the Company in the General Meeting held on 20 November 2020, the issued share capital of the Company, being 2,733,293,311 ordinary shares of £0.001 each at the date of this announcement, will be consolidated on the basis of 100 ordinary shares of £0.001 each for one new ordinary share of £0.10 with a new ISIN of GB00BMH19X50 ("New Ordinary Shares") (the "Consolidation").
The Consolidation will result in the 2,733,293,400 ordinary shares of £0.10 each being consolidated into 27,332,934 New Ordinary Shares with effect from 20 November 2020.
Any fractional entitlements arising on the Consolidation will be aggregated and sold in the market for the best price reasonably obtainable and the net proceeds will retained by the Company as advised in the circular.
The figure of 27,332,934 may be used by shareholders and others as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules, on completion of the consolidation.
An application has been, or will be made for the New Ordinary Shares, which will have the same rights and will be subject to the same restrictions as ordinary shares in issue prior to the Consolidation, to be admitted to the Official List of the United Kingdom Listing Authority, to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that the Admission will occur on 23 November 2020.
For shareholders, those holding shares in CREST on the record date of 20 November 2020 will have their CREST accounts credited with the New Ordinary Shares on 23 November 2020.
New share certificates will be issued to non-CREST shareholders in substitution for their existing share certificates. All existing share certificates will be invalid and will be cancelled and new share certificates will be dispatched to those shareholders who hold their shares in certificated form on the record date of 20 November 2020.
The dates and times for the Consolidation are set out below:
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Last day to trade in the existing ordinary shares on the LSE | 20 November 2020 |
Record date in the UK for the Consolidation and the disablement of the existing ISIN (6.00 p.m.) | 20 November 2020 |
Trading in the New Ordinary Shares under the new ISIN on the LSE commences | 23 November 2020 |
New Ordinary Shares credited within CREST | 23 November 2020 |
Share certificates dispatched | From 23 November 2020 |
The resolution in relation to the change of name was passed at the General meeting on 20 November 2020, shareholders will be updated as the formalities of the name change are finalised.
Further Information:
For further information please contact:
Altyn PlcRajinder Basra+44 (0) 207 932 2455
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the main market segment of the London Stock Exchange.
To read more about Altyn Plc please visit our website www.altyn.uk
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