CPL announces share split

CITY Pharmacy Ltd (CPL) yesterday announced the split of share on a three-for-one basis to cater for “grassroots” investors.
The company directors decided on the move to make shares listed on the Port Moresby Stock Exchange (PoMSOX) more affordable to low-income groups.
CPL chairman Alan Jarvis noted that following the split shares, CPL on issue will increase from 11,025,128 ordinary fully-paid shares to 33,075,384 ordinary fully-paid shares while the issued capital of the company will remain unchanged.
The directors also anticipated that their shareholder base increase would encourage more investors to acquire CPL shares.


 

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