The Directors of Thor Energy PLC (AIM, ASX: THR, OTCQB: THORF) are pleased to advise that, further to shareholder approval on 23 August 2023, the Company has implemented a share capital consolidation for its ASX quoted securities effective today.
Under the share capital consolidation, the Company has reduced the number of its Ordinary Shares by way of a consolidation on the basis of 10 Ordinary Shares into one new ordinary share of 0.01p each (“New Ordinary Share”). Accordingly, holders of the Company’s CDIs, quoted on the ASX, have also been reduced by way of a consolidation on the basis of 10 CDIs into one new CDI (“New CDI”) (collectively the “Consolidation”). Pursuant to the Consolidation, the number of options have also been consolidated in the same ratio as the Ordinary Shares and the exercise price has been amended in inverse proportion to that ratio.
The impact on the Company’s ASX traded CDI’s is that, effective 31 August 2023, the total number of ASX listed CDI’s has reduced from 1,459,291,453 to 145,928,723. The total issued ordinary share capital of the Company, including AIM listed ordinary shares, is now 239,291,284.
Save for any minor adjustment resulting from the rounding down of fractional entitlements, all shareholders will have retained the same percentage interest in the Company’s issued ordinary share capital as that held immediately prior to the implementation of the Consolidation. Shareholders holding fewer than 10 Ordinary Shares or CDIs immediately prior to the Consolidation will cease to be shareholders of the Company.
The ASX announcement earlier today also sets out the new post-consolidation number of AIM quoted ordinary shares, ASX quoted options (THROC and THROD) and unlisted options.
The last day for trading in CDIs on a pre-consolidation basis was 28 August 2023. Normal trading on the post consolidation CDIs will commence on 7 September 2023. Accordingly, the ASX trading code for the Company’s CDIs was amended to a temporary deferred settlement code of THRDD from 29 August 2023, and will revert to THR on 7 September 2023. Similarly, the ASX trading codes for the Company’s quoted options has been temporarily amended to deferred settlement codes THRDE and THRDF and will revert to THROC and THROD on 7 September 20
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