Summary by Moomoo AI
In order to enhance the Company's funding flexibility and support future business growth, the Board of Directors of Gili Motor Holdings Limited (“Geely Motor”) announced that it has proposed to increase the Company's authorized share capital from the existing HK$240,000,000 to HK$360,000,000. This involves the addition of 6,000,000,000 shares with a face value of HK$0.02 per share, with the same status as the issued shares. As of the date of the announcement, Geely Motors has issued 10,063,382,383 shares, with 1,936,617,617 shares outstanding. The proposal to increase the authorized share capital is subject to the approval of the parties at the Annual General Meeting. The Board considers that this move will provide the Company with greater flexibility for future investment opportunities and will benefit the Company's future business planning and development in the interests of the Company and its shareholders as a whole. The resolution will be presented at the Annual General Meeting for consideration and approval by shareholders. The date of publication is 8 April 2024.
