Summary by Moomoo AI
Xinyi Glass Holdings Limited has announced that it will provide a stock dividend plan for the year ending December 31, 2023. The plan was approved at the shareholder's annual general meeting held on May 31, 2024, allowing shareholders to choose to receive a final dividend of HKD 0.37 per share in cash or in the form of stock dividend. The market cap of the stock dividend is set at HKD 8.84, which is 95% of the average closing price from June 4 to June 11, 2024 over five trading days. If all eligible shareholders choose the stock dividend, approximately 176.8 million new shares will be issued, accounting for 4.02% of the expanded issued shares. The company will send letters and choice forms for the plan to eligible shareholders on July 5, 2024, and shareholders must submit their choice forms before July 22 to participate in the plan. The stock dividend is expected to be traded on the Stock Exchange of Hong Kong for the first time on August 8, 2024.
