Soilbuild Construction Group Ltd. has proposed a share consolidation, where every ten existing shares will be consolidated into one consolidated share. The key points to note are:
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Share Consolidation: Every 10 existing shares held by shareholders as of a record date (yet to be determined) will be consolidated into 1 share. Fractional entitlements will be disregarded.
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Extraordinary General Meeting (EGM): Shareholders’ approval for the consolidation will be sought at an EGM. Details for the EGM will be circulated to shareholders in due course.
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Trading in Consolidated Shares: The consolidated shares will be traded on the Singapore Exchange in lots of 100 shares. For shareholders holding less than ten shares, they will no longer be shareholders post-consolidation unless they acquire additional shares.
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Approval in Principle: The Singapore Exchange has granted approval in principle for the listing and quotation of up to 165,466,068 consolidated shares, subject to shareholders’ approval at the EGM.
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Cautionary Note: The share consolidation is subject to various conditions, and there is no assurance of completion as of the date of this announcement.
Important Dates: To be determined, pending shareholder approval.
Price Impact: The consolidation will not affect the company’s issued and paid-up share capital.
Investor Actions: Shareholders should consult their financial advisors if they hold less than 10 shares or have questions about the consolidation. Further details will be provided in the company’s circular to shareholders.
