Effective August 11, the stock holding of each shareholder of Grace Kennedy Limited will increase three fold.

This follows yesterday’s approval by shareholders of a three-for-one stock split at the company’s Extraordinary General Meeting (EGM),

This means that stock units with a market price of $115 per stock unit prior to the split will now triple with an initial price of $38.33 per stock unit.

Speaking at the EGM, Group CEO Don Wehby indicated that the approval will now allow the stock to be more accessible to investors and would lead to an increased liquidity in the trading of the stock.