Polaris now has an issued and paid-up capital of $402.8 million, with a total share base of nearly 17.1 billion shares.
Polaris plans to cancel its share capital by $393.6 million to reflect accumulated losses incurred from a series of impairments, allowances and operational losses.
By doing so, the company hopes to “rationalise” its balance sheet, so as to better reflect the value of its underlying assets and financial position.
