Kin shareholders approve share consolidation plans
Source - SMW
Kin Group has confirmed that the resolution, in respect of the planned share consolidation, was passed by shareholders at today's General Meeting.
The Company also provided the following update regarding its trading status:
"Trading in the Company's Ordinary Shares on AIM is currently suspended, pending clarification of its financial position. Following completion of the CVA, the Placing and the Consolidation and the admission to trading of the New Ordinary Shares ("Admission"), the Directors believe that the Company will have clarified its financial position and will apply to AIM for the suspension to be lifted and trading in the New Ordinary Shares of the Company to be resumed with effect from Admission.
"The Company has applied to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. The New Ordinary Shares will be admitted to trading under a new ISIN code: GB00BZ7M6059.
"Completion of the Company's proposals including the Placing, CVA and the Board changes are conditional on the lifting of the suspension in trading of the Company's ordinary shares on AIM and Admission."