Steppe Cement (GB:STCM) has released an update.
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Steppe Cement Limited has announced a major win with shareholders overwhelmingly approving a capital repayment, translating to roughly 1.5 pence per share, following a recent Extraordinary General Meeting (EGM). The capital reduction will maintain the total number of shares at 219 million but will decrease the company’s share capital to USD 69.6 million from USD 73.8 million. This financial move is part of the company’s strategic efforts and is slated for completion in the second quarter of 2024.
For further insights into GB:STCM stock, check out TipRanks’ Stock Analysis page.
