StockMarketWire.com - Cyber security company Shearwater Group launched a proposed share capital reorganisation.

The move would reduce the number of issued ordinary shares in the company by a factor of 100.

It was expected to increase the trading price of the resulting ordinary share proportionally, and to increase the ratio between the nominal value of an ordinary share and the current trading price to a more normal level.

'The board considers the capital reorganisation to be in the best interests of the company and the shareholders of the company,' Shearwater said.

'In particular, it believes the effect of the capital reorganisation will improve the market liquidity of the company's ordinary shares by reducing the volatility and spread of trading activity.'

Such a move, would make the company's ordinary shares more attractive to a broader range of institutional investors and other members of the investing public, both within the UK and overseas, it added.

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