RMA gets nod for 1:4 share split

Shareholders of Perth-based RMA Energy Ltd have voted for a one-for-four share split at a general meeting held today.

As a result of the vote, the number of shares in the base metals, coal and uranium explorer will increase from 61 million shares to 244 million shares.

Australian stock exchange trading under the new arrangements will commence on March 7, 2008, on a deferred settlement basis.

In accordance with ASX listing rules, appropriate changes will be made to company options and strike prices.

RMA chairman Terry Byrt said the share split would improve trading liquidity and share affordability, while reducing price volatility.

No other resolutions were put to the meeting.