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Travelite Holdings proposes 5-for-3 share consolidation

Travelite Holdings Ltd has proposed to undertake a five-for-three share consolidation, under which every five existing ordinary shares held by shareholders will be consolidated into three shares.

This is to meet the Singapore Exchange's continuing listing requirement for mainboard issuers to have a minimum trading price requirement of S$0.20 per share by March 2016.

As of Tuesday, Travelite has an issued and paid-up share capital of S$23.4 million comprising 105.2 million existing shares (including 2,558,000 treasury shares).

Travelite said the proposed share consolidation will have no impact on the dollar value of its issued and paid-up share capital and has no effect on the shareholders' funds of the group.