Shareholders of Micham Exploration (VSE) will be asked to consider a 1-for-3-share consolidation at the company’s annual meeting next month. President David Bell says the share consolidation has been proposed to facilitate a rights offering for which regulatory approval is to be sought. The company currently has 9,628,556 shares outstanding which will be reduced to 3,209,518 after giving effect to the 1-for-3 consolidation.
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