LifeBrandz proposes 50:1 share consolidation and rights issue
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Singapore
LIFEBRANDZ is proposing to undertake a 50-to-1 share consolidation, followed by a rights issue that it will use to repay advances from two shareholders.
LifeBrandz said last Friday that its board believes a share consolidation will reduce the volatility of its share price and reduce fluctuations in the company's market capitalisation. LifeBrandz shares fell 0.1 cent or 12.5 per cent to S$0.007 last Friday.
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