Nov 2019 Financial News

Notice to Member Firms - The West Indian Tobacco Company Limited Stock Split

Nov 15, 2019

STOCK SPLIT – THE WEST INDIAN TOBACCO COMPANY LIMITED (WCO)

WCO previously advised that at a Special Shareholders’ Meeting held on October 30th, 2018, their shareholders approved an amendment to WCO’s Restated Articles, which authorized a share split to convert each ordinary share of WCO into three ordinary shares, subject to regulatory approval.

The Trinidad and Tobago Stock Exchange Limited has been further advised by WCO that regulatory approval has now been received.

In light of the above, the TTSE would advises that the stock split would result in an increase in the number of WCO shares from 84,240,000 to 252,720,000. The price of the stock would also be split by three. The price change will be effective on Tuesday 26th November, 2019 and will be based on the stock’s closing price as at Monday 25th November, 2019. The trading platform will automatically suspend orders with prices outside +/-15% of the new share price. The additional shares will be listed on the Exchange effective Tuesday 26th November, 2019 but only become available for trading on Friday 29th November, 2019.

All member firms are encouraged to take note of the aforementioned dates and contact your clients to adjust their orders accordingly.


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 15th November, 2019