16th Oct 2015 07:26
LONDON (Alliance News) - PeerTV PLC on Friday proposed a share consolidation under which shareholders will get one share in the company for every 1,000 they hold.
The company said the fractional entitlements, or any shares left over after the consolidation, will be aggregated and sold in the market for the benefit of the company.
Following the consolidation, PeerTV shareholders will have the same proportion of the company's share capital as prior to the move.
Shares in PeerTV were down 15% to 0.0149 pence on Friday, the worst performer in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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