Business
Proposed Share Capital Consolidation
Proposed Share Capital Consolidation.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nRNS Number : 1047N Oxford Biomedica PLC 04 May 2018 \n\n \n \n \n \n \n \nOxford BioMedica plc (\"Oxford BioMedica\" or the \"Company\")\nProposed Share Capital Consolidation and Notice of General Meeting\n \n \nLondon, UK - 4 May 2018: Oxford BioMedica plc (\"Oxford BioMedica\", \"the Company\" or \"the Group\") (LSE:OXB), a leading gene and cell therapy group, today announces a proposed share capital Consolidation of the existing ordinary share capital of the Company.\nThe effect of the proposed Consolidation will be to reduce the number of issued ordinary shares in the Company by a factor of 50 whilst increasing the trading price of each Existing Ordinary Share. \nThe Board considers the Consolidation to be in the best interests of the Company and its Shareholders. It believes that the effect of the Consolidation will be to improve market liquidity by reducing the volatility and spread of trading activity in the Company's New Consolidated Ordinary Shares and make trading in the Company's shares more attractive to a broader range of institutional investors and other members of the investing public, both overseas and in the UK.\nAs it is proposed that all existing ordinary shareholdings in the Company be consolidated, the proportion of the issued ordinary share capital of the Company held by each Shareholder immediately before and after the Consolidation will remain relatively unchanged, other than for small changes that may arise from the rounding for fractional entitlements.\nImplementation of the Consolidation requires the approval of Shareholders. A General Meeting will be held at 11.30 a.m. (or, if later, immediately following the conclusion of the Company's Annual General Meeting) on 29 May 2018 at the offices of Covington & Burling LLP, 265 Strand, London WC2R 1BH at which the Resolution necessary to give effect to the Consolidation will be put to Shareholders.\nA Circular, which provides details of the Consolidation and includes a Notice of General Meeting and Form of Proxy, is today being sent to Shareholders and has been submitted to the UK Listing Authority for publication through the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. The Circular is also being made available at the Company's website, w...