LONDON (Thomson Financial) - RAM Investment Group Plc. said it is proposing
a capital reorganisation in order to reduce the number of shareholders with very
small shareholdings.
The company is also proposing to raise up to 600,000 pounds gross via a
share issue for potential investments and working capital purposes.
RAM said it will consolidate every 2,000 existing shares into 1 new share of
20 pounds each. Any fractions arising as a result of the consolidation will be
aggregated and sold in the market on shareholders' behalf and, where the amount
of the proceeds is 3.00 pounds or more, the net proceeds of the sale (after
costs) will be returned to shareholders in proportion to their fractional
entitlement.
However, proceeds of less than 3.00 pounds will be retained by the company,
it added.
After the sale, the company will sub-divide each newly created share of 20
pounds into 2,000 shares.
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