Shareholders of Gemabank (IMCB, MOEX: GEMA), at the Extraordinary General Meeting (EGM), decided to split the company's shares and approved the payment of dividends.
At the EGM, a decision was approved to split the company’s ordinary shares with a coefficient of "10". The number of shares in respect of which the split is carried out is 1,492,992 ordinary shares, with a par value before splitting of 10 kopecks per share. The number of shares of the same category into which one ordinary share is converted is 10 pieces (1:10). The number of ordinary shares after splitting is 14,929,920 shares with a par value of 1 kopeck per share.
According to Dmitry Krasotkin, investment director of Artgen Biotech, "The split will make the shares more accessible, which will significantly expand the range of the company’s shareholders, and will also increase the issuer’s exchange liquidity."
The EGM also approved the decision to pay dividends based on the results of 9 months of 2023 in the amount of RUB 20 per one ordinary share. The date on which persons entitled to receive dividends are determined is December 25, 2023.
IMCB is part of the Artgen Biotech group of companies (MOEX: ABIO), and, under the Gemabank brand, is engaged in the personal storage of biomaterials, primarily hematopoietic stem cells. The company is also developing gene therapy drugs to treat blood and immune system diseases.