Palace Amusement Board Agrees To Stock Split

  • The board of the movie theatre Palace Amusement has agreed to a stock split. The decision will now be put to the company's shareholders at its annual general meeting on January 24, 2023.
  • Investors will be asked to vote on increasing the company's authorised share capital from 1.5 million to an unlimited number of shares.
  • These ordinary shares will be equal to the current shares in circulation. Palace's shareholders are also asked to agree to a stock split, which would see each issued ordinary share in the company sub-divided into 600 additional shares. This would take effect from the close of business on February 28, 2023.
  • It will bring the total number of issued shares from 1.44 million ordinary shares to 862.22 million ordinary shares with no-par value.

(Source: RJR News)