OKYO Pharma Ltd current report, Q2 FY2023

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OKYO Pharma Ltd. Form 6-K Summary

Business Context and Reporting Period

OKYO Pharma Ltd. filed a Form 6-K dated April 5, 2023, as a foreign private issuer reporting a corporate action concerning its ordinary shares and UK listing. The filing is furnished under Commission File Number 001-41386 and references a shareholder circular posted on April 5, 2023.

Material Corporate Action

  • The company proposed cancelling its ordinary shares from listing on the standard segment of the UK Financial Conduct Authority’s Official List and from trading on the London Stock Exchange’s main market.
  • The proposed transaction includes consolidating every 65 existing ordinary shares into one new ordinary share, aligning the ordinary share structure with the company’s current American Depositary Share ratio.
  • Shareholder approval was scheduled to be sought at a general meeting on May 3, 2023, at 12:00 midday in London.
  • The circular contains the proposed timetable and other resolutions related to the listing cancellation and share consolidation.

Financial Metrics and Liquidity

The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other operating and financial metrics.

Outlook, Risks, and Unusual Items

Completion of the proposed listing cancellation and share consolidation is subject to shareholder approval and the associated corporate-action process. The filing does not provide additional management commentary, financial outlook, contingencies, or business-operating risk discussion.

The announcement and circular are furnished as Exhibit 99.1 and are not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor incorporated by reference into other filings, except where expressly provided.

Key Facts for Investors to Verify

  • Whether shareholders approved the proposed resolutions at the May 3, 2023 general meeting.
  • The final effective date and timetable for cancellation of the UK listing and trading admission.
  • The implementation details and effective date of the 65-for-1 share consolidation.
  • Any resulting changes to the company’s ordinary share count, ADS ratio, trading arrangements, or investor eligibility.
  • The full shareholder circular and related announcements available on OKYO Pharma’s investor website.