Sportech has announced plans to reduce the number of shareholders in the company and return approximately £3.5 million to shareholders though a share capital restructure.
The proposed restructure involves a 10,000 to one share consolidation and a subsequent one for 1,000 share sub-division, and is meant to provide an “efficient exit” for minority shareholders.
Sportech has approximately 3,760 existing shareholders, most of whom hold less than 1,000 shares.
“It has come to the attention of the directors that [...]
