On August 29th, Langham-SS (01270.HK) announced that the trust and the company will issue 59,245,043 new shares or units to LHIL Assets on August 30, 2024 based on special authorization, in order to pay the hotel management fees and license fees due to the hotel management during the six-month period ending on June 30, 2024. The trust and the company have applied to the Stock Exchange for approval to list and trade the shares or units to be issued for the management fees during the six-month period ending on June 30, 2024.
The issuance of shares or units to pay the management fees for the six-month period ending on June 30, 2024 is equivalent to (i) approximately 1.7558% of the issued shares or units as of the announcement date; and (ii) approximately 1.7255% of the expanded issued shares or units after issuing shares or units to pay the management fees.