Xunhe Group (01591) issued an announcement. The board of directors proposed merging every 10 existing shares in the company's issued and unissued share capital into 1 consolidated share. As of the date of this announcement, the company had 4 billion shares fully paid or recorded as fully issued existing shares. Assuming that no shares will be issued from the date of this announcement until the date of the annual shareholders' meeting, after the share merger comes into effect, the company will have 0.4 billion shares paid up or recorded as fully issued consolidated shares.
The Company's authorized share capital will be maintained at HK$0.1 billion, but will be divided into consolidated shares with a face value of HK$0.1 per billion share. Existing shares are currently traded on the Stock Exchange. The trading unit for each lot is 20,000 existing shares. After the share merger comes into effect, the trading unit for each lot of consolidated shares will remain unchanged at 20,000 consolidated shares per lot.
