Feb 22 (Reuters) - Ultracharge Ltd UTR.AX :
* Ultracharge to undertake selective capital reduction-utr.ax
* Uultracharge to undertake selective capital reduction - will cancel approximately 17.2% of UTR issued capital
* Cancellation to be made up of 40% of consideration shares issued to certain vendors
* Company proposes to cancel 129.2 million shares
* Value of consideration shares to vendors of ultracharge israel was $24.3 million Source text for Eikon: Further company coverage: UTR.AX