Kingsley Cooper Chairman of Pulse
Pulse Investments’ directors propose to consider the splitting of the issued shares of the company into two units for each one currently issued. The Board Meeting is set to be held on Monday, May 22.
The resolution, if passed by the Board, would go to a General Meeting to be voted on by the shareholders of Pulse Investments. The company currently has 271,789,674 issued shares, the split would put the total up to 543,579,348 units.
The company’s stock last traded on the Jamaica Stock Exchange at $8.05 and carries a PE of 6 compared to 13 for the main market.
During 2016 the company passed a resolution agreeing to issue additional shares by way of a rights issue. From all indications, with the PE well below the general market the company must be awaiting a greater uptick in stock price before going back to shareholders for more funds.
