Profil:
Dino Polska SADino grocer plans to carry out 1:10 share split
Listed retailer Dino wants to carry out a share split by reducing the nominal value of the shares from PLN 0.1 to PLN 0.01 and increasing the number of shares forming the share capital from 98,040,000 to 980,400,000 shares, according to the draft resolutions of the general meeting convened for June 16.
The share capital of the company will not change due to the split of shares.
"The share split does not result in changes in the shareholding structure, i.e. the share of shareholders in the total number of votes in the company and in the company's share capital, will remain unchanged," Dino has written in the draft resolution.
"Following the share split, the market price of the shares will decrease accordingly, while the number of shares traded on the regulated market operated by the Warsaw Stock Exchange (GPW S.A.) will increase," it added.
Dino's management board reasoned that the adoption of the resolution is motivated primarily by increasing the liquidity of trading in the company's shares and increasing the availability of the shares to individual investors.
doa/ ao/ nl/