On October 31st, GANQ (00265.HK) announced that the board of directors recommended implementing a stock consolidation, whereby every fifty (50) shares of the company's share capital with a par value of HKD 0.005 each, whether issued or unissued, will be consolidated into one (1) share of the company's share capital with a par value of HKD 0.25 per share. The stock consolidation must be approved by the shareholders at an extraordinary general meeting by way of voting before it can take effect.
As of the date of this announcement, the existing shares are traded in lots of 10,000 shares on the Stock Exchange. It is now proposed that after the stock consolidation takes effect, the trading unit on the Stock Exchange will change from 10,000 shares of existing shares to 2,000 shares of consolidated shares.
