Palace Amusement Investors Agree To Stock Split  

 

• Investors in movie theatre operators Palace Amusement Company Limited have agreed to a stock split.  The decision was made at the company’s annual general meeting last week.
• This will see Palace's ordinary shares sub-divided into 600 additional shares and will be effective at the close of the February 28, 2023 business day.
• Shareholders also agreed to increase the company's authorized share capital. The total number of issued Palace stocks will move from 1,437,028 ordinary shares of no par value to 862,216,800 million ordinary shares of no par value.
• The stock closed at $2,967.86 on Monday’s trading session and has increased 100.84% since the start of the year.
• The stock split is expected to improve the liquidity of the stock on the market, as it will appear more nominally affordable.

(Source: JSE News)