Seprod shareholders approve stock split

Neville Graham/ senior staff writer

Seprod Limited shareholders have cleared the way for the company to raise fresh equity, reduce debt and pursue expansion opportunities across the Caribbean, while also approving a five-for-one stock split.

Shareholders approved all three resolutions at Monday’s extraordinary general meeting, increasing Seprod’s authorised share capital from one billion ordinary shares to 1.9 billion and giving directors broad authority to issue new shares. Thereafter the company will increase the authorised shares from five fold in a split to 9.5 billion units.