Aug 2016 Financial News

GraceKennedy Limited - Stock Split

Aug 04, 2016

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from GKC that at the extraordinary general meeting (EGM) held at the Company’s headquarters in downtown Kingston on July 11th 2016, the following resolutions were unanimously passed:

1. By way of an Ordinary Resolution: that each of the ordinary shares in the capital of the company be subdivided in three ordinary shares of no par value with effect from August 11th 2016.
    
2. By way of a Special Resolution: that to facilitate the subdivision of shares aforesaid, that Article 4A of Form 1A of the Articles of the company be and is hereby amended by the increase in the maximum number of shares which the company is entitled to issue from 400,000,000 to 1,200,000,000.
    
3. By way of an Ordinary Resolution: that all the shares in the Company which are not yet issued be converted into stock when issued and fully paid.

In light of the above, the TTSE would like to advise that the stock split would result in an increase in the number of GKC shares from 331,577,631 to 994,732,893. The price of the stock would also be split by three. The price change will be effective on Tuesday, 09th August, 2016 and will be based on the stock’s closing price as at Monday, 08th August, 2016.

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday August 4, 2016