Amplitude Energy Completes Share Consolidation to Streamline Capital Structure

Amplitude Energy ( (AU:AEL) ) just unveiled an announcement.

Amplitude Energy Limited has completed a consolidation of its issued share capital, performance rights, and share appreciation rights on an 11-for-1 basis, as approved by shareholders at the company’s Annual General Meeting. This consolidation results in a new capital structure, with ordinary fully paid shares totaling 297,939,152. The company has dispatched new holding statements to security holders and will resume normal trading under the ASX code AEL. This move is expected to streamline the company’s capital structure, potentially enhancing shareholder value and improving market perception.

The most recent analyst rating on (AU:AEL) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.

More about Amplitude Energy

Amplitude Energy Limited is an Australian gas production company focused on supplying the Southeast domestic gas market. The company owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, close to Australia’s largest gas demand centers. It also has non-operated oil production in the Cooper Basin and holds a portfolio of long-term customer gas supply contracts, while retaining exposure to tight Australian East Coast spot gas markets. Additionally, Amplitude Energy possesses an extensive portfolio of exploration and development prospects in the Otway and Gippsland Basins, including undeveloped discovered resources such as the Annie and Manta gas fields.

Average Trading Volume: 593,243

Technical Sentiment Signal: Buy

Current Market Cap: A$837.2M

For an in-depth examination of AEL stock, go to TipRanks’ Overview page.