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Cairn Energy provides update on share consolidation plans
StockMarketWire.com
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Cairn Energy said its previously announced share consolidation plan would seek to reduce shares in a ratio of 11 new shares for every 13 existing shares.
The aim of this consolidation is to keep the market price of an ordinary Cairn share the same before and after the return of $250 million, 32 pence a share, in cash to shareholders to ensure historical and future share data were comparable.
Story provided by StockMarketWire.com
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