Ezra Holdings share price hit by consolidation plan

Ezra Holdings share price hit by consolidation plan

Ezra Holdings shares have dropped over 17% in trading today as investors reacted negatively to an announcement by Ezra overnight that it would be undertaking a share consolidation in order to keep its share price above the minimum level required by the Singapore Stock Exchange.

Ezra said that it will consolidate every eight shares into one share in order to ensure it complies with the minimum trading price of S$0.20 ($0.14) required for Mainboard-listed stocks.

Shares will be consolidated prior to March 1, leaving Ezra with 367,800,122 shares on the market at a paid-up share capital of $624,736,00.

Having begun the year at $0.099, Ezra Holdings shares closed trading today 17.1% down for the day at $0.058.

Last week the company posted a quarterly loss of $53.7m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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