Santana Minerals (ASX:SMI) will seek shareholder approval to subdivide its stock on a one-for-three basis, according to a Friday filing to the Australian bourse.
The metal explorer's board said the stock split would benefit shareholders by increasing liquidity and share affordability. The share split will not involve payment or distributions of any amounts to shareholders, the filing stated.
Santana Minerals shares rose over 6% in Friday trade.
Price (AUD): $1.81, Change: $+0.11, Percent Change: +6.18%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments