Dino Polska plans to make a shaft of action – she said on Tuesday afternoon a chain of discount stores. The company wants to do this by reducing the nominal value of one share from PLN 0.1 to PLN 0.01. As a result, the number of shares forming the share capital is to increase to 98.08 million pieces to 980.4 million. The Management Board convened to the 16th General Meeting in this matter and presented draft resolutions.
“The division of actions does not cause changes in the structure of the shareholding, i.e. shareholders' shares in the total number of votes in the company and in the company's shareholders will remain unchanged. After the shares of shares, the market price of shares will be reduced accordingly and the number of shares in the trade on the regulated market conducted by the Warsaw Says Says SA “will increase” – the resolution was written in the draft.
Due to the division of (split) shares of the company, the amount of the share capital will not change. Reducing the nominal value in a ratio of 1:10 will cause a “decrease” of stock prices to the same extent. For example: if a split was made today (with a rate of PLN 531.4 per value (the quotations fell by 0.2 percent in the afternoon), the new price of one share would be PLN 53.14. This does not change the value of the action package in the investor's hands in any way: If someone had 100 shares before the surgery, PLN 531.4 each, had a package worth PLN 53,140. After split, it will have 1000 values worth PLN 53.14 (in total still worth PLN 5,3140).
Why did Dino decide to split action? “Adoption of a resolution is motivated primarily by an increase in the liquidity of trading in the company's shares and increasing the availability of the company's shares for individual investors” – argues the company.
Splits (division) and Resplity (combining) shares are relatively rare operations. In recent years, PZU (in 2015 in a ratio of 1:10) or AmRest (also 1:10) has conducted from among large Split companies. A lot of retail investors would like to see a large LPP shares, because one piece costs PLN 15970 (in record moments it was about PLN 18,000). However, it is difficult to count on it, because it is not clear whether after the division of actions, the main shareholders would keep their privilege in a 1: 5 ratio (as it is today). Now, according to the Code of Commercial Companies, the maximum privilege in this area in joint -stock companies is 1: 2.
Resplit was performed by companies with a low course, which was threatened with degradation to quotation in double fixing mode (he did, for example, the famous bioton).
