[Edaily Reporter Park Sun-Yeop ] Aptamer Sciences Inc has decided to conduct a stock consolidation to establish an appropriate stock price and enhance corporate value.
Aptamer Sciences Inc(291650)The company announced on the 23rd that it held a board of directors meeting and decided to conduct a stock consolidation, raising the par value per share from 500 won to 1,000 won.
As a result of this stock consolidation, the total number of common shares outstanding will decrease from 61,039,242 to 30,519,621. The number of preferred shares will decrease from 920,000 to 460,000.
Aptamer Sciences Inc explained that this stock consolidation preserves the company’s enterprise value and does not constitute a capital reduction.
The stock consolidation proposal is scheduled to be submitted to an extraordinary general meeting of shareholders on July 8. The effective date for the new shares is July 24. Trading is expected to be suspended from July 22 to August 11, and the new shares are scheduled to be listed on August 12.
Fractional shares resulting from the stock consolidation—those amounting to less than one share—will be settled in cash based on the closing price on the first day of the new shares’ listing.
The company stated, “The total number of issued shares after the consolidation may change due to cash payments for fractional shares resulting from the consolidation,” adding, “This decision regarding the stock consolidation is subject to change depending on the outcome of the extraordinary general meeting of shareholders, and the schedule and details may also be subject to change during the consultation and processing with relevant authorities.”