SK target (08427) announced that the board of directors recommends a consolidation of every 10 issued and unissued existing shares in the company's share capital into 1 consolidated share. As of the date of this announcement, the company has a total of 0.136 billion issued existing shares that have been fully paid up or reserved as fully paid up. Assuming no further issuance or buyback of existing shares from the date of this announcement until the special shareholders' meeting, the company will have 13.6264 million issued consolidated shares that have been fully paid up or reserved as fully paid up after the share consolidation takes effect.
As of the date of this announcement, the existing shares traded on the Hong Kong Stock Exchange are in units of 6,000 existing shares per trade. The board of directors recommends that after the share consolidation takes effect, the trading unit on the Hong Kong Stock Exchange will be changed from 6,000 existing shares to 1,200 consolidated shares per trade.
