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Montanaro European Smaller Companies confirms split share plans

Montanaro European Smaller Companies confirms split share plans – Montanaro European Smaller Companies (MTE) has revealed further details of its previously announced share split plans, subject to shareholder approval at its next AGM, which takes place on 9 September 2021. The share split will see the sub-division of each ordinary share of 50p each into 10 new ordinary shares of 5p each and is also conditional on the new shares being admitted to the premium listing category of the “official list” and to trading on the premium segment of the main market of the London Stock Exchange.

Applications are being made, which are expected to be effective from 14 September 2021. Dealings in the new shares will also commence on this date. The last day of trading of existing shares is therefore expected to be 13 September 2021 with the ‘record date’ for share split being 5pm. Shareholders will receive 10 new shares in exchange for each existing share held on that date, with share certificates due to be posted no later than 28 September 2021

MTE : Montanaro European Smaller Companies confirms split share plans

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