Singapore-founded regenerative medicine company Osteopore Limited (ASX: OSX or the Company) – a global leader in 3D-printed biomimetic and bioresorbable implants – is pleased to announce that the Company’s shareholders have approved a consolidation of capital.
The capital consolidation will streamline the Company’s capital structure and support the business to continue delivering on its work plan while positioning the Company to maximise growth opportunities and shareholder value.
Osteopore’s shareholders approved the consolidation based on a ratio of [15] to [1], which means that every [15] pre-consolidation security will be consolidated into [1] post-consolidation security.
The consolidation – effective 5 March 2024 – was approved by shareholders at a General Meeting (GM) held in Perth, Western Australia at 10.00 am (WST) on 21 February 2024, where the resolution was passed by a poll vote.
The information required to be disclosed by the Company in accordance with ASX Listing Rule 3.13.2 and Section 251AA (2) of the Corporations Act 2001 (Cth) – is attached.
Following the completion of the capital consolidation, Osteopore’s capital structure is expected to comprise approximately:
- 10,327,909 post-consolidation shares
- 3,522,527 post-consolidation options
- 900,000 post-consolidation performance rights
The Company believes the consolidation is another key step towards maximising shareholder value and capitalising on the exciting opportunities presented by regenerative medicine.
Commenting on the share consolidation Osteopore Executive Chairman Mark Leong said:
“The consolidation will streamline our capital structure and support the business to continue delivering on our growth strategy, laying the foundation for the right ecosystem to achieve revenue growth and shareholder returns.”
“Osteopore recognises the outstanding support of our shareholders, who understand the exciting potential of our Company and the regenerative medicine sector.”