Share Consolidation

ASX Announcements

Neptune Marine Services Limited (ASX: NMS, Neptune or the Company) intends to undertake a share consolidation of 30 existing shares for 1 new share (30:1), subject to shareholder approval. The timetable for the proposed share consolidation is provided below.

The Company currently has approximately 1.8 billion shares on issue, which is relatively large for a company of its size. The proposed share consolidation will reduce the number of shares on issue to approximately 60 million, creating a more efficient capital structure.

The Company’s Notice of Annual General Meeting (lodged with ASX on 24 June 2014) contains further details about the proposed share consolidation.

Subject to shareholders approving the share consolidation at Neptune’s 2014 Annual General Meeting to be held on 30 July 2014, the key dates for the share consolidation are as follows:

Date Event
30 July 2014 Annual General Meeting.
Announcement if shareholders approve proposed share consolidation
31 July 2014 Last day for ASX trading of NMS shares on a pre-consolidated basis
1 August 2014 Trading starts in consolidated shares, on a deferred settlement basis 
6 August 2014 Last day for registration of transfers on a pre-consolidated basis 
7 August 2014 First day for despatch of notice to each security holder.
First day to issue new certificates. From now on, NMS rejects transfers accompanied by a certificate that was issued before the reorganisation.
13 August 2014 Last day for despatch of notice to each security holder.
Last day for issue of new certificates. Last day for securities to be entered into the holders' security holdings to reflect the effect of the reorganisation.
Deferred settlement market ends.


Category: ASX Announcements