On July 4, Gelunhui announced that the board of directors of sk target (08427.HK) proposed to combine every ten (10) issued and unissued existing shares in the company's share capital into one (1) combined share. As of this announcement, the company had 136,263,600 shares fully paid or registered as fully paid issued existing shares. Assuming that no more existing shares will be issued or repurchased from the announcement date until the date of the general meeting of shareholders, after the share consolidation takes effect, the company will have 13,626,360 shares fully paid or registered as fully paid combined shares issued.
As of this announcement, the existing shares are traded in units of 6,000 shares on the Stock Exchange. The board of directors proposes to change the trading unit per hand on the Stock Exchange from 6,000 existing shares to 1,200 combined shares after the share consolidation takes effect.