Canadian betting and media business theScore has commenced a consolidation of its outstanding Class A shares and specialstock voting shares, ahead of a potential listing on the New York Stock Exchange in the US.
The consolidation came into effect from yesterday (February 11), with Class A shares expected to commence trading on the Toronto Stock Exchange from February 18, following the completion of the consolidation.
The business said the consolidation will see one new Class A share issued for every 10 currently outstanding Class A shares, with the same ratio to be applied to its special voting shares.
As such, theScore expects its 434,425,695 Class A shares to be consolidated to 43,442,568 shares, while the 5,566 special voting shares will be consolidated as 557 shares, subject to rounding for any fractional shares.
theScore said no fractional shares would be issued, with shares with fractional interest of 0.5 or greater to be rounded up, and lower than 0.5 rounded down, to the nearest whole number.
