KMD Brands Limited (NZX / ASX: KMD), the owner of popular outdoor, surfwear, and footwear brands including Kathmandu, Rip Curl, and Oboz, has announced a share consolidation aimed at rationalising its number of ordinary shares on issue. The company’s Board resolved to undertake a 1-for-25 share consolidation. This means that for every 25 shares held in KMD, shareholders will receive one new share.
The consolidation is scheduled to take effect for shares held at 7:00 pm NZST (5:00 pm AEST) on Wednesday, 1 July 2026. As a direct result, the total number of KMD shares on issue will be significantly reduced from 1,799,415,022 to approximately 71,976,601 shares. Fractional entitlements arising from the consolidation will be rounded to the nearest whole number of shares, with any fractional entitlement to half a share being rounded up.
A detailed timetable has been provided for the corporate action. Monday, 29 June 2026, marks the last day for trading in pre-consolidation shares on both the NZX Main Board and ASX. The ex-date for the consolidation is Tuesday, 30 June 2026, when trading will commence on a post-consolidation basis under temporary tickers “KMDZ” on NZX and “KMDDA” on ASX (deferred settlement). The record date follows on Wednesday, 1 July 2026. Normal settlement trading in post-consolidation shares will begin on the NZX on Thursday, 2 July, and on the ASX on Friday, 3 July 2026. Shareholders can expect to receive a statement from KMD’s share registrar, MUFG Pension & Market Services, notifying them of their new shareholding after the consolidation’s effective date. The company also reserves the right to aggregate holdings from associated shareholders where holdings appear to have been split to gain advantage from rounding.
