SHAREHOLDERS in Namibian Fishing Industries Limited (Namfish) recently rejected a proposal from the company’s board of directors to issue additional shares to be used to recapitalise the company.
On December 30, Namfish announced the results of its general meeting held the previous Tuesday when shareholders voted against a special resolution proposed by the company’s directors to increase the authorised share capital through the creation of 300 million new ordinary shares. Yesterday Sam Alfheim, the company secretary, confirmed that 89 024 862 of the existing 100 million ordinary shares have been issued to date.”The purpose of the proposed increase in the authorised share capital of the company is to enable it to implement a rights offer, if so required to recapitalise the company,” said a circular issued to shareholders at the start of December last year.According to th
Continue Reading on The Namibian
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.