The Board believes that undertaking a 1 for 20 share consolidation will better position DP World’s share price alongside global companies with an earnings per share ratio that better reflects the value of the company.
Holders of DP World shares prior to the commencement of trading on Thursday 19 May 2011, the ‘record date’ will each receive one New Ordinary Share for every 20 existing ordinary shares. Trading in the New Ordinary Shares is expected to commence at market opening on Thursday 19 May 2011.
It is anticipated that the share price on Thursday May 19 will be approximately 20 times the level of the previous night’s close to adjust for the reduction in the number of shares in issue. There should be no change in value for shareholders as a result of the consolidation and treatment of fractions.
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