- 1pm plc is proposing a capital reorganisation that will see every ordinary share consolidated into 0.006818 new ordinary shares.

It also said its trading performance over the past two financial years has improved significantly, culminating in the recent full-year numbers.

The Company reported revenues of £3.11m (2012: £2.31m, 2011: £1.33m) and pre-tax profits of £0.77m (2012: £0.44m, 2011: £0.20m ).

"To reinforce the trading and financial progress made by the Company, the Board believes that it would be appropriate and beneficial to both the Company and its Shareholders to undertake the Capital Reorganisation," it said.

"The Capital Reorganisation will, if implemented, allow the Company's share price to be consolidated such that it is no longer at a sub penny share price."

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