Seatrium receives approval in-principle from SGX for share consolidation

Shares in Seatrium closed at 9.2 cents on March 12.

Seatrium has received an approval in-principle from the Singapore Exchange S68 Securities Trading Limited (SGX-ST) for its proposed share consolidation.

The company, on Feb 26, announced that it was proposing to undertake a share consolidation of every 20 existing issued shares into one ordinary share. The proposed share consolidation will be rounded down to the nearest consolidated whole share.

Shareholders who hold less than 20 existing shares as at the record date will not be entitled to any consolidated shares and will no longer be shareholders upon the completion of the consolidation.

Affected shareholders may consider purchasing additional shares to increase the number of shares as at the record date, which has yet to be announced.

As at Feb 26, Seatrium has an issued and paid-up share capital of $8.58 billion comprising 68.2 billion outstanding shares on the market. After the consolidation, Seatrium’s shares will be reduced to 3.4 billion.

The proposed share consolidation is still subject to the approval of Seatrium’s shareholders at its upcoming annual general meeting (AGM).

Shares in Seatrium closed at 9.2 cents on March 12.

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