Key Petroleum Limited (AU:KEY) has released an update.
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Key Petroleum Limited has announced a proposed consolidation of its capital, which will convert every 100 existing shares into one share, subject to shareholder approval at their upcoming AGM. This move aims to reduce the number of shares from over 2.2 billion to approximately 22.6 million, thereby increasing the value per share and creating a more efficient capital structure. The consolidation is expected to make the company’s shares more attractive to a wider range of investors without altering individual shareholder percentages.
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