Grateful News, November 26th: e&p Global (01142.HK) announced that the board of directors recommends a capital restructuring through the following ways to propose the restructuring of the company's capital:
(1) Capital Reduction (i) By canceling 0.49 Hong Kong dollars per issued share to fully pay up the capital and reducing the face value of each issued share from HK$0.50 to HK$0.01 per share, after the reduction, each issued share becomes a share of the company's capital with a face value of HK$0.01 per share after the reduction of shares; and (ii) The proceeds generated from step (i) will be used to offset the accumulated losses of the company as of the effective date of the proposed capital restructuring in a manner permitted by all applicable laws and the outline and details of the company's articles of association as deemed appropriate by the board of directors.
(2) Share Split: Following the effective date of the capital reduction, each statutory but unissued company share will be split into fifty (50) shares with a face value of HK$0.01 per share after the reduction of shares.
The board of directors recommends changing the trading unit for the buying and selling of reduced shares from 4,000 shares to 8,000 shares, effective from the effective date of the proposed capital restructuring.
