No Signboard completes share consolidation

The consolidation merged every six shares into one, resulting in 77,064,793 consolidated shares.

No Signboard Holdings Ltd. has completed its proposed share consolidation, effective 22 March.

In a statement, the company said the consolidation combined every six shares into one consolidated share, resulting in a total of 77,064,793 consolidated shares.

Shareholders holding odd lots of consolidated shares can now trade them on the SGX-ST, with a minimum size of one consolidated share.

The proposed subscription shares will also be issued soon under the terms of the Implementation Agreement, following the completion of the share consolidation. The issuance will represent 75% of the company's enlarged issued and paid-up share capital on a fully diluted basis, with an issue price of approximately $0.002 per subscription share, totalling $500,000.

ALSO READ: Independent investors acquire majority stake in No Signboard

Additionally, the company will issue compulsorily redeemable preference shares (CRPS) as per the terms of the Implementation Agreement. These shares will be issued at the CRPS issue price of $0.031 each.

Shareholders are reminded of the company's right to redeem or convert outstanding CRPS within the specified conversion period.

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