KMD Brands to consolidate shares to 72m, appoints new director
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The news: Sports apparel company KMD Brands has unveiled plans to consolidate its shares to rationalise the number of ordinary shares currently on issue, effective 1 July.
The context: The consolidation will merge every 25 shares held in the company into one share, with all fractional entitlements rounded to the nearest whole number.
As a result, the number of shares on issue will be reduced to approximately 71.976 million.
Separately, KMD Brands has appointed John Strowger as its non-executive director, effective 1 July, to succeed David Kirk.
Strowger brings vast experience in governance and currently chairs Skellerup Holdings and serves as a director for Sanford Limited.
