AMA Group Shareholders Approve 1 for 10 Share Consolidation

MT Newswires Live

11/03

AMA Group (ASX:AMA) has secured shareholder approval at the company's annual general meeting to consolidate its issued capital on a 1-for-10 basis, effective Monday, according to a same-day filing with the Australian bourse.

The final day to trade the company's shares before the consolidation is Tuesday, with normal trading in the post-consolidation securities set to begin on Nov. 14, the filing added.

The consolidation follows the company's earlier plan to simplify its capital structure and reduce share price volatility by converting every 10 shares and performance rights into 1, according to October filling.

The company's shares rose around 2% in recent Monday trade.

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