huabang tech (03638) announced that the board of directors proposes to consolidate every 12 existing shares of the company's share capital into 1 share...
According to the announcement from huabang tech (03638), the board of directors proposes to consolidate every 12 existing shares of the company's share capital into 1 share. As of the date of this announcement, the company has 0.947 billion fully paid or credited as fully paid existing issued shares. Assuming no other shares are issued from the date of this announcement until the date of the shareholders' annual meeting, after the share consolidation takes effect, there will be 78.9238 million fully paid or credited as fully paid issued consolidated shares.
As of the date of this announcement, the existing shares are trading on the Stock Exchange of Hong Kong at 12,000 shares per unit. Subject to and pending the effectiveness of the share consolidation, it is proposed to change the trading unit on the Stock Exchange from 12,000 existing shares to 1,000 consolidated shares.
