Summary by Moomoo AI
JIAMIN GROUP LIMITED (SHARE CODE: 8519) ANNOUNCES PLANS TO MERGE SHARES AND CHANGE OF TRADING UNITS. THE COMPANY PROPOSES TO MERGE EXISTING SHARES WITH A VALUE OF HK$0.01 EACH INTO ONE CONSOLIDATED SHARE WITH A VALUE OF HK$0.02. In addition, it is proposed to change the trading units traded on the exchange from 10,000 shares of existing shares to 20,000 shares of consolidated shares. The merger is subject to the approval of the Extraordinary General Meeting and the GEM Listing Committee of the Exchange agrees that the merger may take place after the listing of the shares. The expected effective date of the share consolidation is March 25, 2024. The Company stated that the purpose of the share consolidation and change of trading units was to comply with the trading requirements of the GEM Listing Rules and to increase the trading value of the shares to make the investment more attractive. Circulars for the consolidated shares are expected to be mailed to shareholders on or before February 29, 2024.