President Energy
Posted: September 7th, 2022, 1:43 pm
Circular to Shareholders
President is today posting a circular to shareholders ("the Circular"). The Circular is sent in connection with:
· a proposed capital reorganisation which will result in shareholders holding one new ordinary share for every 200 existing ordinary shares
· a proposed change of name of the Company to Molecular Energies PLC with a new ticker LON: MEN
· a proposed extension of share authorities to give increased power to the Directors to allot shares on a non-preemptive basis providing flexibility in the evolving Group including its Green House Capital division
https://wp-presidentenergyplc-2020.s3.e ... ar-WEB.pdf
If they spent the money on dividends rather than this exercise, it might raise the share price in a way more beneficial to share holders.