May 27 (SeeNews) - Slovenian financial management firm M1 [LJE:MR1R] said it plans a 500:1 reverse share split.
If approved, the split will result in the company's share capital being divided into 7,865 regular shares with no par value, M1 said in a statement with the Ljubljana Stock Exchange (LJSE) on Tuesday.
M1 shareholders will vote on the proposed reverse share split on June 26.
According to M1 data, the company's share capital of 16.4 million euro ($17.9 million) was divided into some 3.93 million shares of no par value at the end of last year.
Ljubljana-based Copartner held a 90% stake in M1 at the end of 2019.
M1 swung to a net loss of 4.1 million euro last year from a 60,140 euro net profit in 2018.
Its shares last traded on the Ljubljana bourse on March 11, closing at 0.60 euro, LJSE data showed.
($= 0.913813 euro)