Key Petroleum capital consolidation details

Key Petroleum (ASX:KEY) has successfully finalized a capital consolidation following approval from shareholders at the Annual General Meeting held on November 28, 2024. The process, completed on December 4, 2024, converted every 100 existing shares into one share, reducing the total shares on issue from 2,262,928,126 to 22,629,502. This change applies equally to all shareholders, preserving their percentage ownership.

Overview of Key Petroleum's strategic move

Key Petroleum has completed a share consolidation, reducing the number of shares on issue substantially while maintaining shareholder ownership proportions. This action was approved at the Annual General Meeting and implemented by the company's share registry. Notices will be sent to security holders to inform them of the changes. The consolidation is part of Key Petroleum's strategy to optimize its capital structure as it continues to focus on achieving its corporate goals. The company's management has assured that the consolidation will not impact the relative ownership of existing shareholders.

Executive insights on share consolidation

The consolidation was executed to streamline our share structure without materially affecting shareholders' interests. This move ensures that all security holders maintain their relative stake in Key Petroleum as we continue to pursue our strategic objectives.