SALF Increase Share Capital and 10:1 Stock Split Unanimously Passed at Annual General Meeting
- Salada Foods Jamaica Limited (SALF) has advised that at its recent Annual General Meeting shareholders voted unanimously on the following Special Business Resolutions to increase the Company’s authorized share capital and a ten to one stock split.
- With this resolution, the maximum number of shares that the Company is entitled to issue be and is hereby increased from 500,000,000 shares of no par value to an unlimited number of ordinary shares, such shares to rank pari passu with the existing shares in issue.
- Each of the issued ordinary shares in the capital of the Company will be subdivided into 10 ordinary shares with effect from the close of business on Wednesday, March 31, 2021, resulting in the total issued capital of the Company being increased from 103,883,290 ordinary shares of no par value to 1,038,832,900 ordinary shares of no par value.
- This is the first stock split for the company since the last one in November 2008, and the hope is to boost the liquidity of the stock as approximately 90% of the small float is held by the top 10 shareholders.