Environmental Clean Technologies Limited (ASX: ECT) has announced its intention to undertake a consolidation of capital, subject to shareholder approval. Environmental Clean Technologies focuses on commercialising its Coldry technology and developing carbon reduction technologies. The proposed capital consolidation will be on a 15 to 1 basis, meaning every fifteen shares will be consolidated into one share.
The company will seek shareholder approval for the Capital Consolidation at a General Meeting scheduled for on or about 18 August 2025. The board believes this consolidation will reduce the number of shares on issue, leading to a more efficient capital structure. It aims to create a capital structure more aligned with the company’s size and peer group, potentially increasing the share price attractiveness to a broader range of investors.
If approved, the number of ECT shares on issue will decrease from 4,015,435,416 to approximately 267,695,694, subject to rounding and assuming no new shares are issued before then. The consolidation will apply equally to all shareholders, maintaining each shareholder’s percentage interest. Options currently on issue will also be consolidated at the same ratio, with corresponding adjustments to the exercise price, as per ASX Listing Rules.
The indicative timetable includes the Consolidation Effective Date on 19 August 2025, with the last day for pre-consolidation trading on 20 August 2025. The record date for the consolidation is set for 22 August 2025. The company will update its register and notify security holders of the changes by 29 August 2025.
