OncoSil Medical Ltd (OSL) has announced a security consolidation, subject to shareholder approval at an Extraordinary General Meeting on May 29, 2025. The consolidation will occur at a ratio of 400 pre-consolidation securities to 1 post-consolidation security across all quoted and unquoted securities. This includes ordinary fully paid shares (OSL), options expiring April 30, 2027 (OSLO), options expiring June 30, 2025 (OSLOB), performance rights (OSLAB), options expiring November 29, 2028 (OSLAR), performance rights expiring October 25, 2026 (OSLAM), and options expiring October 25, 2027 (OSLAN).
Trading on a deferred settlement basis will commence on June 3, 2025, with the record date set for June 4, 2025. The issue date, marking the completion of the register update, is scheduled for June 12, 2025, followed by normal T+2 trading commencing on June 13, 2025. First settlement of trades will occur on June 17, 2025.
Prior to consolidation, OSL had 4,606,580,162 ordinary shares, which will be reduced to an estimated 11,516,450 post-consolidation. Similarly, OSLO options will decrease from 1,701,126,544 to 4,252,816, and OSLOB options will reduce from 1,914,426,438 to 4,786,066. The exercise prices for the options will also be adjusted accordingly; for instance, OSLO options’ exercise price will increase from $0.03 to $12.00. Fractional entitlements will be rounded up to the nearest whole number.
The company aims to streamline its capital structure through this consolidation. Detailed information about the proposed consolidation is available in the Notice of Extraordinary General Meeting issued on April 30, 2025.
