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DP World shareholders approve share consolidation
United Arab Emirates: Wednesday, May 11 – 2011 at 14:04
DP World Limited ‘DP World’ has received shareholder approval to undertake a 1 for 20 share consolidation. The share consolidation will take place prior to the commencement of trading on Thursday 19 May 2011.
The Board believes that undertaking a 1 for 20 share consolidation will better position DP World’s share price alongside global companies with an earnings per share ratio that better reflects the value of the company.
Holders of DP World shares prior to the commencement of trading on Thursday 19 May 2011, the ‘record date’ will each receive one New Ordinary Share for every 20 existing ordinary shares. Trading in the New Ordinary Shares is expected to commence at market opening on Thursday 19 May 2011.