Completion of GSK Share Consolidation

Following the Issuance and the GSK Share Consolidation, and in accordance with the requirements of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rule 5.6.1A, GSK hereby notifies the market that GSK’s issued share capital as at 8.00 am on Tuesday 19 July 2022 will consist of 4,311,276,836 ordinary shares of 31¼ pence each . Therefore, the total number of voting rights in GSK as at 19 July 2022 is 4,067,352,076. Reverse splits are usually done when the share price falls too low, putting it at risk for delisting from an exchange for not meeting certain minimum price requirements.

In connection with the proposed Business Combination, CXApp will file with the SEC a registration statement on Form S-1 (the “Form S-1”) registering shares of CXApp common stock, and KINS will file with the SEC a registration statement on Form S-4 (the “Form S-4”) registering shares of KINS common stock, warrants and certain equity awards. The Form S-4 to be filed by KINS will include a proxy statement/prospectus in connection with the KINS stockholder vote required in connection with the proposed Business Combination. This communication does not contain all the information that should be considered concerning the Business Combination.

share consolidation

The Form S-1 to be filed by CXApp will include the Form S-4 filed by KINS, which will serve as an information statement/prospectus in connection with the spin-off of CXApp. This communication is not a substitute for the registration statements that CXApp and KINS will file with the SEC or any other documents that KINS or CXApp may file with the SEC or that KINS, Inpixon or CXApp may send to stockholders in connection with the Business Combination. It is not intended to form the basis of any investment decision or any other decision in respect to the business combination. KINS’s stockholders and Inpixon’s stockholders and other interested persons are advised to read, when available, the preliminary and definitive registration statements, and documents incorporated by reference therein, as these materials will contain important information about KINS, CXApp and the Business Combination. The proxy statement/prospectus contained in KINS’s registration statement will be mailed to KINS’s stockholders as of a record date to be established for voting on the Business Combination.

A letter of transmittal will be mailed to all registered shareholders with instructions on how to exchange their existing share certificates for new share certificates. A copy of the letter of transmittal is also available on the Company’s profile on SEDAR and has also been posted on the Company’s website. Shareholders who hold their common shares through a securities broker, dealer, bank or other financial institution are not required to take any action with respect to the consolidation and should contact that intermediary for their post-consolidation positions. The exercise price and number of common shares of the Company issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities.

Total number of voting rights

Existing share certificates for Vodafone ordinary shares will no longer be valid as of 8.00 a.m. Shareholders who are eligible for the Vodafone Share Account (“VSA”) and have not opted out of the VSA will receive a statement of ownership in due course. Shareholders who are not eligible for the VSA or who have opted out will receive new share certificates. The important thing to know is that your proportional ownership of the company has not changed. Each shareholder will receive one post-consolidation share for every ten pre-consolidation shares you held. So, while the total number of shares will decrease by 10 times, the proportionate ownership interest remains the same for all shareholders.

Stockholders are urged to carefully read the proxy statement/prospectus regarding the Business Combination when it becomes available, because it will contain important information. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KINS’s stockholders in connection with the Business Combination will be set forth in the registration statement when it is filed with the SEC. Information about KINS’s executive officers and directors and CXApp’s management and directors also will be set forth in the registration statement relating to the Business Combination when it becomes available. For greater certainty, subject to applicable Law, no approval of the holders of Exchangeable Shares to an amendment to these Articles shall be required to give effect to such consolidation. China’s cyberspace regulator on Wednesday said it would revise its rules that will require operators of online and social media accounts to strengthen their review and management of comments left on their pages. The Cyberspace Administration of China said in a statement that account operators should set up and improve their systems to review comments, and be ready to report illegal and undesirable information to the regulator.

share consolidation

The Company’s articles of incorporation authorize the board of directors to approve certain changes to the company’s capital structure, including the consolidation. Concurrent with the reverse stock split, the authorized shares will also be proportionately reduced consistent with the reverse split ratio. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice. The net proceeds of the disposal were used to fund a proposed special dividend of 25p per share, accompanied by a share consolidation. In addition, a rolling share repurchase programme of £500 million over the following 12 months was announced.


The previous market cap is the earlier number of total shares times the earlier price per share, which is $50 million ($5 x 10 million). The market cap following the stock merger is the new number of total shares times the new price per share, which is also $50 million ($25 x 2 million). Removal from a national-level exchange relegates the company’s shares to penny stock status, forcing them to list on the pink sheets.

share consolidation

In addition to respecting you, Newsfile is respected as an accredited source of business news—making every story we handle become trusted for retail and institutional investment decisions. Our commitment to delivering the best personal service defines our business and inspires our efforts every day. We’re accessible and responsive to every client we serve, using cutting-edge technology and innovation makes it easier for us to focus on relationship building. This communication is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

It comes as the company reaches the finish line of its redomiciliation, which has seen it delist from the Canadian Securities Exchange , officially relocate to Guernsey and launch its shares onto the Hargreaves Lansdown trading platform. Outstanding stock options and share purchase warrants will also be adjusted by the Consolidationratio justforex review and comments and the respective exercise prices of outstanding options and share purchase warrants will beadjusted accordingly. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

In February 2005, the TDS Board of Directors approved a stock dividend of TDS Special Common Shares-one Special Common share for each Common or Series A Common share. In part to effect the stock dividend, TDS proposed increasing the number of authorized Special Common Shares to 165 million, which required shareholder approval. TDS shareholders approved the proposal at a special shareholder meeting on April 11, 2005. TDS issued a stock dividend of Special Common Shares on May 13, 2005 to shareholders of record as of April 29, 2005.

EnCore is committed to engaging and working with local communities and indigenous governments to create positive impact from corporate developments. Our corporate factsheet provides an overview of Centrica’s business, our portfolio and our People & Planet Plan. This is our global website, intended for visitors seeking information on GSK’s worldwide business.

Other regular instances of reverse stock splits include many small, often non-profitable companies involved in research and development (R&D), which do not have any profit-making or marketable product or service. In such cases, companies undergo this corporate action simply to maintain their listing on a premier stock exchange. The exercise price and the number of common shares issuable under any of the Company’s outstanding warrants, stock options or other convertible securities will be proportionately adjusted upon the Consolidation.

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However, a point of contact at any of these entities will be able to confirm the post-consolidation shareholdings. House of Representatives passed the National Defense Authorization Act (“NDAA”) which included the provision of the Secure and Fair Enforcement (“SAFE”) Banking Act. The SAFE act would allow state-licensed cannabis-related businesses to engage freely in relationships with banks and other financial institutions. While the passage of the NDAA is only one step forward, there is now increased possibility that this long-overdue reform for the U.S. cannabis industry could be approved by Congress.

  • They decide to go for the 1-for-5 reverse stock split, which essentially means merging five existing shares into one new share.
  • Peggy James is a CPA with over 9 years of experience in accounting and finance, including corporate, nonprofit, and personal finance environments.
  • Doing so is a means of attracting a broader range of shareholders, gaining increased liquidity, and delivering long-term value to investors.
  • The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-consolidated common shares to which they are entitled.
  • Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties.

Once placed in these alternative marketplaces for low-value stocks, the shares become harder to buy and sell. There are several reasons why a company may decide to reduce its number of outstanding shares in the market, some of which are fervo energy stock price advantageous. As part of that acquisition, META shareholders received 0.824 High Tide shares for every share of META they held. So, each 1 of these warrants is exercisable for 1 META share and translates to 0.824 High Tide shares.


GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described in the Company’s Annual Report on nonfarm payrolls forecast Form 20-F for 2021, GSK’s Q1 Results for 2022 and any impacts of the COVID-19 pandemic. A share repurchase is when a company buys back its own shares from the marketplace, which increases the demand for the shares and the price. A stock dividend is a payment in additional shares to shareholders rather than a cash dividend payment.

The effective exercise for these warrants was $~0.35 per High Tide share – and holders would need to exercise ~1.21 of them to get a whole High Tide share. For example, if you held 150,000 of these warrants on May 12, 2021, they would be exercisable to purchase 10,000 post-consolidation shares of High Tide for $8.70 each. PRESS RELEASE Lyphe Group, the UK’s leading medical cannabis company, has announced an exclusive partnership with Cronos Australia Limited’s (“Cronos”)… Reverse share splits can also be used to attract institutional investors, who often have internal minimum caps for stocks they will invest in.

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