Gelonghui, November 21丨Liu Jun International (01355.HK) announced that the board of directors recommends increasing the company's authorized share capital from HKD 7,800,000 (divided into 780,000,000 shares with a nominal value of HKD 0.01 each) to HKD 20,000,000 (divided into 2,000,000,000 shares with a nominal value of HKD 0.01 each) by adding an additional 1,220,000,000 unissued shares. The increase in authorized share capital requires approval through an ordinary resolution at a special general meeting of shareholders.
Pending the increase in authorized share capital becoming effective and being approved by independent shareholders at the special general meeting, the board of directors proposes to issue a maximum of 538,033,708 rights shares at a subscription price of HKD 0.088 per rights share, on the basis of one (1) rights share for every one (1) existing share held by eligible shareholders as of the close of business on the record date (assuming the number of shares issued on the record date has not changed). This is intended to raise a total of approximately HKD 47,300,000 (assuming the rights issue is fully subscribed). The rights issue is only available for subscription by eligible shareholders and will not be offered to excluded shareholders (if any).
The board of directors proposes that the trading unit for shares on the Hong Kong Stock Exchange be changed from 2,000 shares to 20,000 shares.
