CMX: Resolution on plan to deal with fractional shares
Camau Trading Joint Stock Company announced a resolution of the Board of Directors date July 09, 2013 as follows:
- The Board of Directors approved a plan to deal with fractional shares in the issuance to pay stock dividend with ratio 16.7% as follows: + The dividend shares will be rounded down. The fractional shares will be canceled. For example, on the record date, shareholder A owns 7 shares. Shareholder A has the right to receive: (7*1/6) = 1.16 shares. However, after rounded down, the real number of shares shareholder A receives is 1 share.
- The Board of Directors approved a plan to deal with fractional shares in the issuance to pay stock dividend with ratio 16.7% as follows:
+ The dividend shares will be rounded down. The fractional shares will be canceled.
For example, on the record date, shareholder A owns 7 shares. Shareholder A has the right to receive: (7*1/6) = 1.16 shares. However, after rounded down, the real number of shares shareholder A receives is 1 share.
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