The majority of shareholdings in Mlllwall will be cancelled on Monday if Millwall Holdings secures support for a share consolidation. Every 100,000 shares will be consolidated into a single share.
The majority of shareholdings in Mlllwall will be cancelled on Monday if Millwall Holdings secures support for a share consolidation. Every 100,000 shares will be consolidated into a single share.
Millwall has issued twice as many shares as BP, although they trade at 0.0181p compared with 441p for the troubled oil giant. The costs of dealing with investors have simply become too much for the club. Millwall Holdings is one of Britain’s most commonly traded stocks with a six month daily average of 51 million. Printing, postage and other costs arising from shareholder meetings have been as much as £100,000.
It is expected that 35,000 out of 43,500 shareholders will be excluded from the register. Their interest in fractional new shares can be put towards a shareholders’ trust or the Help for Heroes charity. Those whose stakes fall below the threshold will receive a certificate of appreciation.