GREECE: CCHBC looks to issue bonus shares
The Greece-based soft drink bottler confirmed late last week that it hopes to issue one bonus share for every two shares owned. The move, which will be voted on at an extraordinary general assembly next month, will see the number of outstanding shares in CCHBC rise to 363m.
"CCHBC's board of directors recognises the consistent growth of the company's share price witnessed over recent years and believes that the proposed transaction is expected to make the stock accessible to a broader range of investors and improve the liquidity of shares," the company said.
The economic interest and voting rights of existing shareholders will not be altered by the issuance, the company noted.
The meeting to vote on the proposal will be held on 15 October, with the new bonus shares expected to be admitted for trading in November, should the company be given the go-ahead.
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