Apparel retailer Restoque said Wednesday evening that its board of directors approved a proposal to be presented to shareholders for a rebranding of the company, as well as a capital increase of 100 million reais and a stock reverse split in a report of 8 to 1.
The company, owner of brands such as Le Lis, Dudalina and John John, intends to change its name to Veste SA Estilo and, thereby, change the code of its stake in B3 to VSTE3.
The proposed capital increase will take place with the issue of 58.8 million new shares at a price of 1.70 reais each. The newspaper rose around 11.6% on Thursday after closing the day before at 1.46 real.
The company will also present to the meeting a new composition of the board of directors formed by the current members Marcelo Faria de Lima, president of the collegiate, and Luciana de Oliveira Cezar Coelho; and also with the names of Livinston Martins Bauermeister, João Marcos Pequeno de Biase, Paulo Souza Queiroz de Figueiredo and Carolina Rossi Wosiack.
The meeting was scheduled for January 10th.
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
