Why Forte Oil Plc number of outstanding shares increased last week

Forte Oil last week increased its number of outstanding shares from 1,080,280,628 to 1,302,481,103  last week after its shares was marked down for dividend. The reason for this was that the company also proposed bonus issues which has now been added to the company’s shares outstanding.

A total of 217,080,184 units were added to the outstanding shares of the Forte Oil Plc resulting from the 1 for 5 bonus, hence the new total outstanding shares of the company now stood at 1,302,481,103 units