Lantrovision

Lantrovision: Proposed special dividend of $0.01. Proposed share consolidation of 100 existing into 1 new share. Proposed rights issue of 12 rights shares for 1 consolidated share. The rights shares will be at a $0.09 issue price.This will result in net proceeds of $22.2m if the rights are fully subscribed. The theoretical ex-price after all actions is est to be $0.3292 of which the rights issue is a disc of 72.7%. Co's rationale is that current share price is less than $0.05 in last 12 mths which results in relatively high transaction costs, hence the desire for a consolidation. The issue of rights will allow shareholders to round up shares to board lots.