Pulse Oil Proposes 1-for-20 Share Consolidation, Pending Approval

Pulse Oil Corp. proposed a 1-for-20 consolidation of its common shares, a change that would reduce its outstanding share count to about 31.2 million if approved and implemented. The company has 623,465,656 common shares outstanding. Under the proposal, each 20 shares would become one, leaving an estimated 31,173,283 shares after the consolidation, subject to rounding of fractional entitlements. Pulse described the potential benefit as improving “the liquidity and marketability of the Common Shares.” The company believes its current share structure can make its shares difficult to trade. Shareholders are scheduled to vote on the proposal Nov.

Source: TokenPost