Shareholders of Knutsford Express Services, approved a 5 for 1 stock split at an Extraordinary General Meeting held on May 22, increasing the issued capital from 100,000,003 units to 500,000,015 shares of no par value.
The meeting also agreed that each ordinary share of the company be subdivided into five shares resulting in the Authorized Share capital of the Company increasing from 100,005,000 shares to 500,025,000 shares of no par value. The record date is June 2 and the ex-split date will be May 30.
The stock traded today at $66 on the Jamaica Stock Exchange. The split should result in the price trading at $13.20 and could easily go to $15. With only 500 million shares issued, the company may well need to consider another split at the annual general meeting later this year.
Knutsford approves split
May 24, 2017 by
